Coca Cola Co said on Monday it was looking closely at the growing marijuana-infused drinks market, responding to a media report that the world’s largest beverage maker was in talks with Canada’s Aurora Cannabis Inc, Reuters reports.
The potential product tie-up, reported by Canadian financial channel BNN Bloomberg, could help Coke’s efforts to overcome sluggish demand for its sugar-heavy sodas by diversifying into coffee and health-focused drinks, the wire service is reporting.
Big corporate names have inched into the marijuana industry since Canada approved recreational use, seeing the country as a production base and testing ground until U.S. Federal Law changes, Reuters says.
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The company responded with a denial that any decisions had been made:
“We have no interest in marijuana or cannabis. 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. The space is evolving quickly. No decisions have been made at this time.”