Shares of cannabis companies opened the week on a high note, after BNN Bloomberg reported that Coca-Cola is seeking to enter into the cannabis drink business. The U.S. beverage giant is said to be interested in CBD infused drinks, and is currently engaged in serious discussions with Aurora Cannabis Inc.
If talks between the two companies are successful, it would be the first time that a non-alcoholic beverage maker is entering into the pot industry. Investors are keeping a keen eye on cannabis-related companies thanks to the global progress towards weed regulation, which could make such firms more profitable.
Recreational use of marijuana is set to become legal from October 17 in Canada, making it the second country in the world to achieve such a milestone. Uruguay was the first country to legalize recreational cannabis use, and many others are likely to follow suit in the near future.
Coca-Cola issued the following statement through spokesman Kent Lander, “Along with many others in the beverage industry, we are closely watching the growth of non-psychoactive CBD as an ingredient in functional wellness beverages around the world. The space is evolving quickly. No decisions have been made at this time.”
On its part Aurora refused to discuss the details of the talks saying till they are concluded. The company only issued a small that read: “Aurora has expressed specific interest in the infused beverage space, and we intend to enter that market.”
CBD is a non-psychoactive cannabis constituent that is used to treat pain. However, it does not make people high. Aurora Cannabis Inc. Toronto-listed shares led the upward move, gaining 19% in the early hours of regular trading. Canopy Growth Corp. rallied 1%, Tilray Inc. jumped 7%, Cannabis Sativa Inc. rose 4%. Cronos Group and Valens GroWorks Corp. were up 3% and 8%, respectively.
Coca-Cola Company Profile
Coca-Cola is a beverage company that manufactures and distributes various nonalcoholic beverages worldwide. The company provides water, enhanced water, and sports drinks; juices; juice, dairy, and plant-based beverages; teas and coffees; and energy drinks.
It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores. The company sells its products primarily under the following brands; Coca-Cola, Diet Coke/Coca-Cola Light, Coca-Cola Zero Sugar, Fanta, Sprite.
Its produces are also available under Minute Maid, Georgia, Powerade, Del Valle, Schweppes, Aquarius, Minute Maid Pulpy, Dasani, Simply, Glacéau Vitaminwater, Gold Peak, FUZE TEA, Glacéau Smartwater, Ice Dew, I LOHAS, and Ayataka brand names.
The Coca-Cola company offers its beverage products through a network of company-owned or controlled bottling and distribution operators, as well as through independent bottling partners, distributors, wholesalers, and retailers.
The company competes with PepsiCo, Inc., Nestle S.A., Dr Pepper Snapple Group, Inc., Groupe Danone, Mondelez International, Inc., The Kraft Heinz Company, Suntory Beverage & Food Limited and Unilever. Coca-Cola was founded in 1886 and is headquartered in Atlanta, Georgia. –YahooFinance
