Molson Coors Plans To Develop Marijuana Beer For The Canadian Market

A Colorado-based brewing company will introduce marijuana-infused drinks into Canada, once full recreational marijuana becomes legal in 2019.
Molson Coors Brewing Company announced on Wednesday they will collaborate with the Hydropothecary Cooperation, a Canadian cannabis suppler, to develop a non-alcoholic drink containing the plant.
Canada voted to legalize marijuana earlier this year, becoming only the second country in the world to legalize pot, with recreational use becoming legal on October 17, while consumables won’t become legal until next year.
The global sales of beer have been declining as consumers begin migrating to other drinks, such as wine and spirts. Many U.S. beer breweries, including Molson Coolers, have reported about a 3 percent drop in total sales over a 12-week period that ended on June 18, according to a recent report.
The brewery believes consumable marijuana could be the ticket needed to regain some growth.
Molson Coors will own a 57.5 percent stake in the new venture, while Hydropothecary will own the remaining 42.5 percent of the business.
The deal is expected to close before the end of September.