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Molson Coors makes cannabis-infused beverage deal in Canada
Ben Miller
Published 15 Hours Ago Denver Business Journal



Molson Coors Brewing Co. said its Canadian unit is entering into a deal that will develop cannabis-infused beverages in Canada.

The Denver brewer said its Canadian unit, Molson Coors Canada, is teaming with Canadian cannabis producer, The Hydropothecary Corporation (HEXO), to create a joint partnership "to pursue opportunities to develop non-alcoholic, cannabis-infused beverages for the Canadian market following legalization." Marijuana use in Canada will become legal later this year.

"Canada is breaking new ground in the cannabis sector and, as one of the country's leading beverage companies, Molson Coors Canada has a unique opportunity to participate in this exciting and rapidly expanding consumer segment," said Frederic Landtmeters, president and CEO of Molson Coors Canada, in a statement.

Molson Coors Canada will have a 57.5 percent controlling interest in the joint standalone venture and HEXO will control the remainder.

Separately, Denver-based Molson Coors reported second-quarter net sales fell slightly but second-quarter earnings per share bested analysts' expectations.

Molson Coors reported second-quarter net sales fell to $3.085 billion from $3.091 billion a year earlier. Analysts were expecting sales of $3.1 billion.

Adjusted second-quarter net income rose to $406.1 million, or earnings of $1.88 per share, from $367.1 million, or $1.70 per share in 2017. Analysts were expecting earnings of $1.85 per share.

Sales in the United States fell by more than 3 percent in the latest quarter, but sales in Europe rose by more than 11 percent.

"Our full year underlying cost savings and free cash flow guidance has not changed, despite ongoing industry demand challenges in the U.S. and Canada and inflationary pressures. While we are aggressively addressing our volume performance in North America, performance in our Europe and International businesses was strong in the quarter," said Mark Hunter, CEO and president, in a statement.

In early Wednesday trading, shares in Molson Coors were basically unchanged.

CBC

[Kristy]

I'm not happy about this. It was only a matter of time before the major corporates are getting into the weed business because they know weed sales have cut into their shitty beer. Question is, why are they not doing it here? Here, as in Denvoid where the entire god damn city smells like a skunk because people spark up in every corner. I used to live close to Coors when I lived in Golden and that place is non-stop 24/7 noise. Now, I know Molson (one of the most god awful beers ever made) is Canadian but my guess this is still in the test market stage. Yes, it was only a matter of time before the corporates start taking over.

[Kristy]

Oh, and I had this strain the other day, "Harambe Perroll" It was gross but I'd take it over any Coors weed beer. Weed beer itself sounds gross...no, disgusting if it also carries the Coors label.

[Seshmeister]

The jury is out - interesting to see the effect of these and how long they take to have an effect.

If say half the people at your table in a bar were drinking alcohol and the other drink half cannabis-infused non alcoholic beer I would guess that you are going to be out of sync with each other.

Also I tried some stuff like this in Amsterdam a couple of years ago, not beer but soft drink infusions done in what Kristy would call 'a corporate' way and it didn't seem to have any effect at all.

[FORD]

As far as know, there are no cannabis infused "beer" products for sale here in Cascadia, though we have an ever growing number of (not so) soft drinks. Haven't tried any of then yet myself, but as it is with other edibles, I would guess they take a little while to kick in. Probably quicker than the cookies, Zoot Rocks, or chocolate bars, since liquid would absorb through the digestive tract easier than solids. Still requires a little more advanced planning than a quick couple of bong hits, obviously.

Ironically, there's been a product called "Humboldt Hemp Ale" in Northern California (with the recognizable leaves on the packaging, and something called "Olde Bong Water" in Montana for years, but both of those are made from hemp seeds containing no THC at all. Though I have to admit, the Humboldt Ale seemed to have a "relaxing" property not usually present in beer, which was great after a long day of driving down the CA coast. Maybe there was some CBD content in it at least?