The CEO of Molson Coors is bullish on cannabis-infused beverages.
Nonalcoholic cannabis-infused beverages could account for as much as $3 billion, or 30% of the total market.
“We decided as a business that we did not want to be a spectator as this new market opened up,” Hunter said. “And we clearly wanted to be a participant.”
A specialized growth-oriented team at Molson has been “chasing down an opportunity in cannabis,” he added.
In August, Molson Coors entered into a joint venture with HEXO, a Quebec-based marijuana cultivator, to produce cannabis-infused beverages for the Canadian market.
Canada legalized marijuana for all adults on October 17, though products like beverages, edibles, and vaporizers won’t be available until next fall.
Hunter said Molson Coors, through the joint venture, was “well-placed” to take a meaningful share of that market when it opens up. [Read More @ Business Insider]
MJShareholders.com is the largest dedicated financial network and leading corporate communications firm serving the legal cannabis industry. Our network aims to connect public marijuana companies with these focused cannabis audiences across the US and Canada that are critical for growth: Short and long term cannabis investors Active funding sources Mainstream media Business leaders Cannabis consumers