Article by Ross Marowits, Ottawa Citizen
Molson Coors says it is looking to Colorado for insight on the possible effects the legalization of marijuana in Canada could have on its beer sales.
Stewart Glendinning, CEO of Molson Coors International, was asked by an analyst Tuesday during the company’s quarterly earnings conference call for his opinion on the potential impact the legalization of marijuana could have on Canada’s beer sector.
“Cannabis is something we are thinking very carefully about, not only as a business but also as an industry,” Glendinning, who was the former head of Molson Coors’ operations in Canada, said in response.
“There’s just a lot we don’t know at the moment. … It’s steady as she goes because of the lack of clarity about the deployment of the drug itself.”
It’s not clear whether Glendinning’s comments are a signal that Molson Coors views a recreational marijuana industry as a threat or opportunity. He did not elaborate and the company did not return calls seeking clarification.