Molson Coors beer maker is looking at ways to enter the marijuana business. 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.
The company has spent the last six months engaged with as many as four cannabis companies, including Aphria Inc. and Aurora Cannabis Inc., discussing its plans to enter the space.
Last year, Corona beer seller Constellation Brands Inc. bought a minority stake in Canopy Growth, Canada’s largest marijuana producer. Rivals such as the Green Organic Dutchman Holdings Ltd. plans to develop a product-testing and manufacturing center to explore using cannabis in everything from iced teas, juices and sports drinks.
Molson would have significant exposure to the North American Cannabis market as the No. 2 beer seller in both Canada and the U.S.