Coca-Cola says it’s ‘closely watching’ the opportunities in CBD-infused beverages
Coca-Cola Co. confirmed on Monday that it is considering the opportunities in CBD-infused beverages, drinks that contain the non-psychoactive ingredient in marijuana, cannabidiol. In a statement, Coca-Cola said: “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.” The largest beverage company in the world would be joining other big names including Molson Coors Co. and Constellation Brands Inc. that have made investments in the space. Coca-Cola and other carbonated-beverage businesses have sought out new products in areas like bottled water and wellness drinks as soda consumption has declined. Interest in the space has driven up shares of cannabis companies like Canopy Growth Corp. nearly 107% for the year so far. According to Bloomberg, Coca-Cola is in discussions with Aurora Cannabis Inc. about new products. Coca-Cola shares have edged up 0.2% for 2018 to date, and the Dow Jones Industrial Average is up 5.8% for the period.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.