Tue, 18 Jun 2019

Coca-Cola planning entry into cannabis drinks market

By Sheetal Sukhija, Toronto News
19 Sep 2018, 00:01 GMT+10

CALIFORNIA, U.S. - Amid reports that the world's leading soft drinks groupis in talks with a Canadian cannabis firm, the Coca-Cola company has now made a statement.

The drinks giant, Coca-Cola announced on Tuesday that it is closely watching the growth of the use of a non-psychoactive element of cannabis in wellness drinks.

Reports had speculated that Coca-Cola was in talks with a Canadian cannabis company to create a cannabidiol-infused (CBD) beverage.

A report in Bloomberg stated that Coca-Cola is in talks with Aurora Cannabis over the possible new product.

The company's interest comes as the use of a non-psychoactive element of cannabis in wellness drinks is growing.

However, in its statement following the report, Coca-Cola claimed that it was certainly eyeing the growing market but that it had made no decisions.

Meanwhile, following the Bloomberg report, shares of Aurora rose nearly 17 percent on the Toronto Stock Exchange.

Since the start of the year, Coca-Cola, which is one of the biggest soft drinks groups in the world and boasts of hundreds of brands across the globe, has been pushing into healthier markets in keeping with the current global market trend.

Earlier this month, Coca-Cola acquired the world's largest coffee chain, Costa - marking its entry into the hot beverage market.

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