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Coca-Cola is getting into the cannabis business

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Coca-Cola is getting into the cannabis business


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Thor Benson / Cannabis News Box Contributor

It appears another major brand is looking into getting into the cannabis space. Coca-Cola is reportedly looking into working with a cannabis producer named Aurora Cannabis Inc. to create CBD-infused beverages. This is further evidence that big brands in alcohol, food and beverage and tobacco are going to be involved in the cannabis space sooner than later.

“We are closely watching the growth of non-psychoactive CBD as an ingredient in functional wellness beverages around the world,” Coca-Cola spokesman Kent Landers said in an emailed statement to Bloomberg News. “The space is evolving quickly. No decisions have been made at this time.”

Constellation Brands Inc., which makes alcoholic beverages like Corona, has already invested billions into the cannabis space, and Molson Coors Brewing Co. has also announced plans to get involved in cannabis products. Coca-Cola has seen soda consumption go down in recent years and surely sees an opportunity when it comes to the growing popularity of cannabis products.

“Companies like Coke are just the beginning as other sectors look to integrate Cannabis and CBD products to an already established consumer base,” Jason Spatafora, a cannabis investor and owner of marijuanastocks.com, told Cannabis News Box. “Consumer packaged goods are where the industry is heading as ‘flower’ commoditization takes shape in next year or so.”

Spatafora believes massive companies like Coca-Cola getting involved in cannabis means legalization will likely come sooner than it may have. “The bigger the industry, the bigger the lobby to push for it,” Spatafora said. These kinds of companies have a lot of sway with Congress, and them getting involved with cannabis will likely mean there will be more motivation to legalize cannabis nationwide.

“There is so much happening in this area right now and we think it has incredible potential,” Aurora spokesperson Heather MacGregor said in a statement. “Stories like this are further validation of the massive global potential of the cannabis industry.”

While major companies wait for the United States to legalize, many of them, like Constellation Brands, are getting involved in Canada’s market. It appears many of these brands will be testing the waters in Canada’s legal market while they wait to see what will happen at home. By doing this, they may be able to learn more about how to operate in the cannabis space so they’ll be better prepared when the United States does eventually legalize.

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Coca-Cola is getting into the cannabis business