The CEO of the Coca-Cola Co., James Quincey, clarified that the company is not interested in entering the cannabis-infused beverage market, reports CNN Business. Quincey's comments came in response to a question from Cowen & Co. analyst Vivien Azer, who, during an earnings conference call with analysts, asked about rumors that Coca-Cola was looking at the Cannabidiol (CBD) category.
Coke said in September it was "closely watching" the growth of CBD as a possible ingredient for wellness beverages while rumors also circulated that Coke was considering an investment in Canadian cannabis company Aurora. However, for now, it seems Coke has passed on cannabis.
Meanwhile, competitor Pepsi hasn't completely ruled out a move into cannabis, according to comments made by CFO Hugh Johnston during an earnings call. However, Johnston added that investing in CBD, especially in the U.S., would be a "considerable challenge" as long as marijuana remains illegal on a federal level. Full Story
Related: Consumers Interested in Cannabis-Infused Food, Drink; Meat-Free Expansion Among Restaurant Predictions.
from Specialty Food News https://ift.tt/2qjLSVU
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