Another major beer-maker has signaled their interest to enter the cannabis space. Molson Coors has stated that the potential to capitalize on the developing Canadian market is attractive.
Following on the heels of Corona producer Constellation Brands' announcement that they would be working with Canopy Growth to bring new cannabis beverages to the Canadian market, Molson Coors has expressed their own interest in the space. CEO Mark Hunter says his company is currently exploring the options and has been in talks with major cannabis producers such as Aphria and Aurora Cannabis.
"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," Hunter said.
As the second largest beer seller in both the US and Canadian markets, Molson Coors has the potential to make a big splash in the world of cannabis beverages. Aurora, for their part, has also revealed their intent to create cannabis beverages.
"We’ve said specifically we’re interested in the infused beverage space and we do intend to enter that market," said Aurora Cannabis’s CCO Cam Battley.
Recreational cannabis is set to be fully legalized in Canada on October 17th, but edibles won't be available for purchase until sometime in 2019. This gives Molson Coors some time to prepare but, as previously noted, other brewers have already begun planning their entry to the market. Still, Deloitte has suggested that cannabis edibles are set to command a large part of the recreational cannabis market share once they to come to market.