Coca-Cola: Currently planning no entry into the cannabis market

01-Nov-2018 - USA

In contrast to other beverage companies, the US industry giant Coca-Cola wants to stay away from the booming cannabis market for the time being. "We currently have no plans to enter this market," said CEO James Quincey at a conference call with financial analysts on Tuesday. In September, US media had reported that Coca-Cola was in talks with the major Canadian marijuana producer Aurora. A spokesman for the soft drink giant did not want to confirm this at the time, but said the market for cannabidiol (CBD) was being closely watched.

CBD is also derived from hemp plants, but unlike the much better known active ingredient THC (tetrahydrocannabinol), it is hardly psychoactive and does not cause "high". It is used more for medical and care purposes and, in the course of legalisation in Canada and many US states, is developing into a new hope for the marijuana industry. According to the spokesperson, Coca-Cola was interested in CBD as an ingredient for "wellness" drinks. Other beverage multinationals - in particular breweries and spirits companies - are already mixing in the cannabis business./hbr/DP/he (dpa)

https://www.yumda.com/en/news/1158180/coca-cola-currently-planning-no-entry-into-the-cannabis-market.html