The CEO of Molson Coors is bullish on cannabis-infused beverages. Speaking on Wednesday during the company’s third-quarter earnings call, CEO Mark Hunter said the... The CEO of Molson Coors says the market for cannabis-infused beverages could be worth billions. Here’s why it’s ‘chasing down’ that opportunity.

The CEO of Molson Coors is bullish on cannabis-infused beverages.

Speaking on Wednesday during the company’s third-quarter earnings call, CEO Mark Hunter said the cannabis market could total $7 billion to $10 billion in Canada alone.

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]

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