Is Coca Cola Getting Into Cannabis?
Coca Cola seems to be keeping an eye on the cannabis industry, especially beverages infused with CBD -- the non-psychoactive cannabinoid in hemp said to have many wellness benefits. Coke may also be in talks with Aurora Cannabis to develop new beverages for this market.
The CBD space is evolving quickly and Coca Cola has always been at the forefront of innovation, so it’s no surprise that the company is considering a CBD Coke type of product. They see the future of CBD is bright and won’t hesitate to take over the market.
Aurora’s shares surged on the news, which is no surprise. They jumped 23 percent to $8 in response to Coca-Cola’s interest.
Coke’s not the only one looking to get into the CBD biz. Corona recently funneled money in a Canadian cannabis producer as well. Will we be seeing CBD beer in stores soon? One can only hope, because Molson Coors Brewing Co. is also joining forces with Quebec’s Hexo’s Corp. to develop cannabis drinks in Canada. Guinness beer is talking with three Canadian cannabis producers about a possible deal as well, according to BNN Bloomberg. Last but not least, Lagunitas launched a new brand selling non-alcoholic drinks with THC. And yes, it will get you high.
Coca-Cola needs to diversify, because consumption of soda is declining for health reasons. They already own brands ranging from Sprite to Powerade, and just acquired the Costa Coffee chain for $5.1 billion. Plus, Coke and has jumped into other product categories including juice, tea and mineral water over the past decade.
There’s no deal set yet, but with the CBD markets booming it feels as only a matter of time. Other companies are innovating the market already. Envy Hemp is pairing organic CBD with various supplements to boost their effectiveness. They offer products that help with energy, sleep, inflammation and more.