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Coca-Cola to get into the cannabis business? ‘The space is evolving quickly’

17 September 2018

Bloomberg reports that Coke is in partnership talks with a Canadian company called Aurora Cannabis, the possible outcome being health drinks infused with cannabis and marketed as remedies for ailments such as cramping and inflammation.

A Coca-Cola spokesman added: 'Along with many others in the beverage industry, we are closely watching the growth of non-psychoactive CBD as an ingredient in functional wellness beverages around the world.

Earlier this year, alcohol producer Molson Coors Brewing Co said it will make cannabis-infused drinks with Hydropothecary Corp, while Corona beer maker Constellation Brands invested $4-billion more into marijuana producer Canopy Growth.

Canada is in the process of legalizing recreational use of marijuana.

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'The space is evolving quickly.

Many cannabis advocates argue that it is is capable of relieving conditions as disparate as depression, arthritis and diabetes.

Aurora isn't the only company that Coca-Cola has discussed developing a cannabis strategy with.

However, its interest in the marijuana sector comes as the fizzy soft drinks that made its name are in decline. The company last month said it would acquire the Costa Coffee chain for $5.1 billion.

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Coca Cola's new venture follows in the wake of a wave of countries legalising the use of cannabis products.

There is no guarantee that talks between the companies will be successful or that a commercial agreement would be made public, BNN Bloomberg reported.

It seems like all the cool kids are doing it, but many were surprised to see that the world's largest beverage company is considering dipping its toes into the cannabis market. The company behind such drinks as Diet Coke, Sprite and Minute-Maid juice reported annual revenue of US$35.4 billion in 2017, down 15.5 per cent from the prior year, which has spurred the company to search for growth in global markets and new beverage concepts such as an alcoholic offering that's only available in Japan.

It is not clear whether Coca-Cola's plans will eventually extend to the United Kingdom, but the revelation was a surprise to UK-based executives. The legal low-concentrate CBD oil is said to be beneficial for treating a number of complaints as well as promoting sleep, boosting appetite and reducing stress, depression and anxiety.

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Coca-Cola to get into the cannabis business? ‘The space is evolving quickly’