The world’s biggest alcohol company Diageo Plc is pursuing a deal with a Canadian cannabis firm, holding serious discussions with at least three major producers, multiple sources familiar with the matter have told BNN Bloomberg.
Source: www.bnnbloomberg.ca
With burgeoning attraction to invest into the cannabis industry, giant U.K. alcohol company, Diageo Pic, has shown interest in expanding into the market by adding cannabis-infused beverages to their product mix. Diageo Pic, the company behind Guinness Beer and Crown Royal Canadian whisky, is in pursuit of a deal with a Canadian cannabis firm. According to close sources, the company has allegedly met with several Canadian companies recently and has attended a marijuana conference held in Toronto last week. If this deal will go forward, Diageo will be following other alcohol giants, Molson Coors and Constellation Brands, who have recently invested into the cannabis sector in efforts to prevent alcohol sales being cannibalized by the sale of marijuana, as per consumer habits. However, the legalization of cannabis-infused products will not enter Canada until October 2019, suggesting these decisions are made out of industry anxiety towards a relatively new and evolving market.
