Big alcohol looks to enter cannabis beverage market, Reuters reports
The largest alcohol makers are laying the groundwork to enter the cannabis beverage market, Jessica DiNapoli and Emma Rumney of Reuters reports, citing founders of cannabis brands, ingredients suppliers, and drinks manufacturers. Drinks containing THC are restricted to licensed dispensaries in 24 U.S. states. Small amounts of THC can be extracted from hemp, a crop that is legal federally and is related to marijuana. Hemp is where big alcohol companies see an opportunity. Companies in the space include Constellation Brands (STZ), Molson Coors (TAP), AB InBev (BUD), Pernod Ricard (PDRDF),and Brown-Forman (BF.A).
