Beverages powerhouse Coca-Cola is seriously considering investing in a new line of cannabis-infused wellness drinks.
The soft drink giant was in “serious talks” with Aurora Cannabis to create a line of recovery drinks, BNN Bloomberg reported. The drinks would be infused with CBD – cannabidiol – the non-psychoactive chemical found in the marijuana plant. They would act as a mild painkiller, and help reduce muscle inflammation and cramping. They would not give consumers the “buzz” many recreational weed smokers seek. One source close to the deal said the two companies were “pretty advanced down the path” of doing a deal, the source told BNN. The move signals a significant commercial shift in willingness to incorporate a drug which is rapidly become more accepted world-wide. The CBD market is ripe for tapping too, with estimates suggesting it could grow to £1.6billion by 2020. In 2015 the market for products infused with the chemical was only £153million.
Kent Landers, a spokesman from Coca-Cola, said in a media statement that many in the beverage industry were closely watching the growth of non-psychoactive CBD as an ingredient in functional wellness beverages around the world. “The space is evolving quickly. No decisions have been made at this time.” Despite refusing to discuss any specifics, Aurora Cannabis shares leapt by almost a fifth after speculation of the deal hit the news. Coca-Cola has increasingly been looking for new revenue streams, after posting profits that fell roughly 16 per cent in 2017. However, the Atlanta-based company remains the largest beverage company on the planet. Nine states in the US have recently legalised recreational marijuana, while medical marijuana is legal in 31 states. Canada followed suit in June. Coca-Cola are not the only brand looking at this new market.
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