Article by Reuters
Walmart Inc.’s Canadian unit said on Tuesday it is exploring the possibility of selling cannabis-based products, but has no immediate plans to get into the business. The company’s shares rose nearly 3 per cent to US$97.48 in afternoon trading. Walmart is the first major retailer to show an interest in being a part of Canada’s burgeoning marijuana industry, as other big U.S. companies, mainly in the alcohol and beverage industries, begin to consider entering the market for cannabis-infused products.
Last month, Coca-Cola Co. said it was closely watching the marijuana drinks market for a possible entry, while Corona beer maker Constellation Brands has invested more than US$4-billion in cannabis producer Canopy Growth.
“Walmart Canada has done some preliminary fact-finding on this issue, but we do not have plans to carry CBD products at this time,” Walmart spokeswoman Diane Medeiros told Reuters.
Cannabidiol, or CBD, is the non-psychoactive chemical found in marijuana and does not cause intoxication.