According to Bloomberg, Coca Cola is looking to tap into the ever-growing weed industry. The company confirmed its interest in CBD (the non-psychoactive component of marijuana that treats pain) in a statement on Monday.
They are “closely watching” the growth of the CBD market, they said, as “the space is evolving quickly. No decisions have been made at this time.”
Per Bloomberg, the company has gone so far as to enter talks with Canadian marijuana giant Aurora Cannabis. At first, neither party would confirm the reported discussions, though Aurora released a statement on Tuesday saying:
THE COMPANY DOES CONFIRM THAT IT ENGAGES IN EXPLORATORY DISCUSSIONS WITH INDUSTRY PARTICIPANTS FROM TIME TO TIME. AT THIS TIME THE COMPANY CONFIRMS THERE IS NO AGREEMENT, UNDERSTANDING OR ARRANGEMENT WITH RESPECT TO ANY PARTNERSHIP WITH A BEVERAGE COMPANY.
Coke would be far from the first to manufacture a CBD drink, should these alleged talks become a reality, though they’d certainly be one of the largest companies to do so.
According to Business Insider, marijuana sales could soon eclipse soda sales. Should weed be made legal anytime soon, it likely would become a $75+ million industry (and it’s not far from there right now as is). Soda sales dropped to about $76.4 million last year.