Molson Coors looks to invest in Canadian cannabis companies - report
23 JUN 2018
Molson Coors Brewing [NYSE:TAP], the Denver, Colorado-based brewing company, has been involved in talks with numerous Canadian cannabis businesses to invest in them and partner up on cannabis-infused drinks in the future, according to a newswire report.
BNN Bloomberg on Friday cited unidentified people familiar with the situation as saying that a deal would see Molson Coors enter the cannabis segment ahead of the legalization of recreational marijuana in Canada on 17 October. The sources added in the article that the American brewer has spent the past half-year engaged in talks with up to four cannabis businesses, among them Vancouver, BC-based Aurora Cannabis [TSE: ACB] and Leamington, Ontario-based Aphria [TSX.V: APH]. The sources said that the talks are believed to be serious, and one of the sources added that a deal could be announced sometime this year.
Colin Wheeler, a Molson Coors spokesperson, said in an email submitted to the newswire that the company does not discuss market speculation.
Aurora's market cap is CAD 5.65bn (USD 4.257bn), and Aphria's market cap is CAD 2.673bn (USD 2.104bn).