Molson Coors Brewing Co. is betting on pot by starting a joint venture with Hydropothecary Corp. to develop non-alcoholic, cannabis-infused beverages for the Canadian market.
The partnership between Molson Coors Canada and Quebec-based cannabis producer Hydropothecary will be structured as a standalone company with its own board and management team. A chief executive officer will be named in the coming weeks.
“We decided entering the cannabis space would provide us with a real growth opportunity,” Frederic Landtmeters, CEO of Molson Coors Canada, said in a phone interview. After talking with several potential partners, Molson Coors chose Hydropothecary because of its research and development capabilities, its loyal customer base and its strong brand, he said.
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