Article by Kayla Gladysz, Daily Hive
The Second Cup Ltd., has plans to change its name and acquire its own cannabis stores as early as next year.
According to a release, the company will change its name to Aegis Brands Inc., which will continue to own and operate the existing Second Cup Coffee Co. shops as part of a portfolio of brands.
While the shops are the only business under the Aegis umbrella right now, Steven Pelton, president and CEO of Second Cup — who’s to assume the role of CEO of Aegis Brands — shares plans for further expansion.
Pelton confirmed that the company is actively seeking acquisitions in the areas of food service, coffee, and cannabis.
News that Second Cup wants to make waves in the cannabis space isn’t new; the brand announced last summer that it was eyeing Ontario coffee shops to be converted into cannabis stores.
Prior to that, the coffee retailer announced a partnership with marijuana clinic operator National Access Cannabis (NAC) to potentially convert coffee shops to NAC-branded and operated recreational cannabis retail stores under the brand Meta Cannabis Supply Co.