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Molson Coors Is the Latest Beermaker to Consider Adding Buds to Suds

ILLUSTRATION: Miami New Times

By Jen Skerritt | 22 June 2018

BLOOMBERG — Another major beermaker is looking at ways to enter the marijuana business.

Denver-based Molson Coors Brewing Co. is weighing whether to expand into the sector with Canada poised to legalize the drug for recreational use this October. The brewer is said to have held talks with several Canadian-based marijuana companies to invest and collaborate in cannabis-infused beverages in an attempt to halt declining beer sales, according to a Friday report from BNN Bloomberg, citing several unidentified people familiar with the matter.

The company has spent the past six months engaged with as many as four cannabis companies, including Aphria Inc. and Aurora Cannabis Inc., discussing its plans to enter the space, according to the report.

“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,” Chief Executive Officer Mark Hunter said at an investor presentation on June 6. Spokesman Colin Wheeler declined to say Friday whether it was in talks with specific cannabis companies. […]

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