Se­cond Cup Eyes Con­verting Some Cof­fee Shops Into Mar­i­jua­na Stores

Article by Armina Ligaya, The Canadian Press via Globe and Mail

Se­cond Cup eyes con­verting some cof­fee shops into mar­i­jua­na stores ARMINA LIGAYA TORONTO THE CANADIAN PRESS. A customer carries her coffee as she leave a Second Cup coffee shop in Toronto on Monday Dec. 5, 2016. DOUG IVES/THE CANADIAN PRESS

Se­cond Cup wants to serve up a dif­fer­ent kind of buzz by con­verting some of its cof­fee shops into can­na­bis dis­pens­aries.

The Can­ad­ian re­tail­er an­nounced Thurs­day that it has signed an agree­ment with mar­i­jua­na clin­ic oper­ator National Access Cannabis to de­velop and oper­ate a net­work of rec­rea­tion­al pot stores.

“This stra­tegic re­la­tion­ship pro­vides Se­cond Cup with a great op­por­tun­ity to lever­age our se­lect real es­tate assets to in­crease value for share­hold­ers and fran­chis­ee part­ners,” said Se­cond Cup chief exec­u­tive Gar­ry Mac­don­ald in a state­ment.

The com­pan­ies said in a joint re­lease that the NAC-branded stores will in­itial­ly be lo­cat­ed across West­ern Canada, ex­pand­ing to in­clude addi­tion­al prov­inces where legal­ly per­mis­sible. NAC will apply for licenses to dis­pense can­na­bis prod­ucts and work with Se­cond Cup and ap­plic­able fran­chis­ees to con­struct stores carry­ing can­na­bis prod­ucts.

Con­ver­sion of any Se­cond Cup cafes to dis­pens­aries will be con­di­tion­al on ob­taining a li­cense from prov­in­cial regu­la­tors as well as the ap­prov­al of the ap­plic­able fran­chis­ee and land­lord.

Canada is pre­par­ing for the le­gal­i­za­tion of rec­rea­tion­al mar­i­jua­na later this year, but the dis­tri­bu­tion model for pot dif­fers wide­ly be­tween prov­inces.

Pri­vate oper­ators will be able to sell mar­i­jua­na, after ob­taining the ap­pro­pri­ate licenses, in prov­inces in­clud­ing British Columbia, Alberta, Saskatchewan and Manitoba. NAC is already a­mong the or­gan­i­za­tions se­lect­ed by Manitoba’s gov­ern­ment to han­dle re­tail sales of rec­rea­tion­al pot once legal.

Read the full article here.

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