Well, it was only a matter of time before marijuana got a corporate makeover.
With cannabis set for legalization in Canada on October 17th, major brands and companies are clamouring over ways to get a piece of the multi-billion dollar industry.
The latest big player in the game is Molson Coors, the Denver-based brewing conglomerate at the core of Canada’s national identity because they named a beer after us and have another that turns the Rocky Mountains blue when it’s cold enough to drink.
According to Bloomberg, Molson Coors has been sitting down for some chats with with several Canadian-based marijuana companies “to invest and collaborate in cannabis-infused beverages in an attempt to halt declining beer sales.”
‘Cuz if the people are weening themselves off alcohol, why not get ’em with weed?
“We have assembled a team in Canada to actively explore the risks and opportunities of entering the cannabis space in that market, where it will be federally legal by this fall,” Molson Coors CEO Mark Hunter said at an investor presentation earlier this month.
Meanwhile, Aurora Cannabis Chief Corporate Officer Cam Battley said his company is “interested in the infused beverage space and we do intend to enter that market.”
Cannabis beverages, as well as edibles, won’t be legal on October 17th, though it’s likely their legalization will follow shortly after. As the number two beer seller in North America, Molson Coors is well positioned to rake in the green should their concoction take off.