MOLSON COORS AND HEXO CORP. SET TO DEVELOP MARIJUANA DRINKS IN CANADA
- November 5, 2018
Overall, the concept of a big-brand cannabis beverage is nothing new. Recently, Coca-Cola and Pepsi voiced interest in branching into the marijuana industry. Now, however, two big names have teamed up to set this plan into motion. Recently, Mark R. Hunter (CEO of Molson Coors) announced his company will be stepping into the cannabis game with Hexo Corp. to produce Truss, a joint venture that will create pot-infused beverages for Canada. For the Molson Coors’ company, this move is a strategic turning point for the massive company and could ultimately transform the landscape for the sales of mass-marketed edibles (largely due to recent changes in the U.S. and Canadian cannabis laws). So how are these companies going to tackle the current edibles landscape? Let’s take a closer look and find out.
The Weed Drink Trend
At this time, Coors’ is not the only major player that has taken advantage of Canada’s recent legalization of cannabis. Back in October, the parent of Corona, Robert Mondavi wine, and Svedka vodka revealed it was planning to pursue alcohol-marijuana partnership, spearheaded by an investment of $4 billion equity in the largest marijuana stock market trade: Canopy Growth, Corp. Likewise, Walmart has also expressed interest in pot beverages, and non-alcoholic THC-infused drinks are readily available at dispensaries.
Presently, representatives of the Coors’ company did not provide exact details about the types of drinks they would be selling. Hunter, however, has speculated that 20% to 30% of non-alcoholic marijuana beverages could be sold in the Canadian cannabis market.
Watch out for Gopher Holes
While Canada officially legalized marijuana on October 17, the country has not made all cannabis products readily available to the public. For example, edibles are not expected to roll into the market until a year from legalization day (October 19, 2019, at the earliest). Likewise, provincial governments will have a say in what types of edibles can be sold. Nevertheless, some private companies (including a shop in cannabis boomtown Alderville) have provided the public with edibles thanks to independent tribal laws in the region.
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