The CEO of The Coca-Cola Co has calmed reports his company is investigating the non-psychoactive CBD category.
On a conference call with analysts following the company's Q3 2018 results announcement yesterday, James Quincey said the group is not mapping out a play in the cannabis arena. The question came after speculation earlier this year linked the soft drinks firm to the cannabis beverage market.
"We don't have any plans at this stage to get into this space," Quincey told analysts. "So that's kind of where we are."
In a note after the call, Cowen analyst Vivien Azer highlighted Coca-Cola's new group, Global Ventures, which is charged with scaling new brands and acquisitions. "Though the company denied they were looking into the CBD-infused beverage space," Azer said, "we believe this new group would be the perfect vehicle to do so."
Who needs alcohol when Coca-Cola can have versatile cannabis? - Comment
Sectors: Cannabis, Company results, Soft drinks
