{"id":8092,"date":"2018-02-22T20:11:27","date_gmt":"2018-02-22T20:11:27","guid":{"rendered":"https:\/\/www.denverpost.com?p=2961686&amp;preview_id=2961686"},"modified":"2018-02-22T20:11:27","modified_gmt":"2018-02-22T20:11:27","slug":"launch-of-cannabis-beverages-in-canada-could-be-big-business-for-alcohol-goliath","status":"publish","type":"post","link":"https:\/\/cannitrol.com\/blog\/launch-of-cannabis-beverages-in-canada-could-be-big-business-for-alcohol-goliath\/","title":{"rendered":"Launch of cannabis beverages in Canada could be \u201cbig business\u201d for alcohol Goliath"},"content":{"rendered":"<div id=\"wp_fb_like_button\" style=\"margin:5px 0 5px 5px;float:right;height:100px;\"><script src=\"http:\/\/connect.facebook.net\/en_US\/all.js#xfbml=1\"><\/script><fb:like href=\"https:\/\/cannitrol.com\/blog\/launch-of-cannabis-beverages-in-canada-could-be-big-business-for-alcohol-goliath\/\" send=\"true\" layout=\"standard\" width=\"450\" show_faces=\"false\" font=\"arial\" action=\"like\" colorscheme=\"light\"><\/fb:like><\/div><div class=\"row\">\n<div class=\"large-10 large-centered small-12 columns\">\n<div class=\"entry-meta-date\">Published: Feb 22, 2018, 12:15 pm \u2022 Updated: Feb 22, 2018, 3:26 pm <span class=\"single-comments-link\" \/><\/div>\n<p class=\"byline\">By <span class=\"author\"><a class=\"url fn n\" href=\"https:\/\/www.thecannabist.co\/author\/awallace\/\" rel=\"author\">Alicia Wallace<\/a><\/span><em>, The Cannabist Staff<\/em><\/p>\n<p>Cannabis is a \u201cbig business,\u201d and Constellation Brands has big aspirations in the space, the alcohol beverage company\u2019s president said this week.<\/p>\n<p>Officials for Constellation Brands (NYSE: STZ) have their sights on developing unique cannabis-based beverages for sale in markets around the globe, as laws allow, Bill Newlands, Constellation\u2019s chief operating officer and newly appointed president told investors Wednesday. Newlands presented as part of the Consumer Analyst Group of New York\u2019s annual conference.<\/p>\n<p>\u201cThis is very consistent with what our organization has done historically, which is to identify, meet and stay ahead of evolving consumer trends,\u201d Newlands said, according to a transcript of the presentation obtained via Bloomberg.<\/p>\n<p>Newlands was referencing <a href=\"https:\/\/www.thecannabist.co\/2017\/10\/30\/constellation-marijuana-investment-canopy\/91171\/\">the nearly $200 million investment<\/a>\u00a0Victor, N.Y.-based Constellation made last fall in Canopy Growth Corp., one of Canada\u2019s <a href=\"https:\/\/www.thecannabist.co\/2016\/12\/01\/canopy-growth-corp-canada-biggest-marijuana-company-acquisition\/68594\/\">largest marijuana companies<\/a>.<\/p>\n<p>\u201cOur goal with this organization is to work collaboratively to both understand the cannabis business but also develop unique cannabis-based beverages that will be available around the world as legalities prove those to be an option,\u201d he said.<\/p>\n<p>First up: Canopy\u2019s homeland of Canada.<\/p>\n<p>\u201cLet me remind all of you, cannabis is going to be legal in Canada starting <a href=\"https:\/\/www.thecannabist.co\/2018\/02\/16\/candada-marijuana-legalization-delayed\/99298\/\">(this year)<\/a>, and we expect the beverages will be legal soon thereafter,\u201d he said, according to the transcript.<\/p>\n<p>\u201cAnd let\u2019s keep in mind,\u201d he added, \u201cthis is a big business.\u201d<\/p>\n<p>Rattling off the numbers of U.S. states that have legalized the medical use and\/or the recreational use of marijuana, Newlands stated that by Constellation\u2019s estimate, cannabis is a $50 billion business in America.<\/p>\n<p>\u201cThat\u2019s half the size of the beer business,\u201d he said. \u201cThat\u2019s pretty big business.\u201d<\/p>\n<p>Newlands was quick to give the caveat that Constellation has no intention of entering into the U.S. cannabis industry unless cannabis is legal \u201cat all levels of government.\u201d<\/p>\n<p>Canopy Growth and Constellation already have kicked off research-and-development work, <a href=\"http:\/\/www.timescolonist.com\/business\/marijuana-producer-working-with-corona-on-cannabis-infused-beverages-1.23174880\">The Canadian Press recently reported<\/a>.<\/p>\n<p>\u201cCannabis edibles (including cannabis-infused beverages) will not be legal in Canada until 2019,\u201d Caitlin O\u2019Hara, a Canopy Growth spokeswoman said via email to The Cannabist. \u201cThat said, we are already preparing for the opportunity to brand and market these products, once federal regulations permit.\u201d<\/p>\n<p>The cannabis industry\u2019s rapid expansion and projected future growth is increasingly attracting interest from well-established, traditional businesses such as Constellation, <a href=\"https:\/\/www.thecannabist.co\/tag\/scotts-miracle-gro\/\">Scotts Miracle-Gro<\/a> and, most recently, leaf tobacco merchant Alliance One International. <a href=\"https:\/\/www.newcannabisventures.com\/publicly-traded-global-tobacco-company-bets-on-cannabis-alliance-one-international\/\">As first reported by New Cannabis Ventures<\/a>, Alliance One <a href=\"http:\/\/phx.corporate-ir.net\/phoenix.zhtml?c=96341&amp;p=irol-newsArticle&amp;ID=2331502\">acquired majority stakes<\/a> in a North Carolina industrial hemp firm that extracts cannabidiol, or CBD, as well as two Canadian marijuana firms.<\/p>\n<p>&#013; &#013; <\/p>\n<div class=\"entry-meta-author\">\n<div class=\"authorimage\"><a class=\"url fn n\" href=\"https:\/\/www.thecannabist.co\/author\/awallace\/\" rel=\"author\"><img src=\"https:\/\/cannitrol.com\/blog\/\/wp-content\/uploads\/2018\/02\/launch-of-cannabis-beverages-in-canada-could-be-big-business-for-alcohol-goliath.jpg\" class=\"authormug\" \/><\/a><\/div>\n<p class=\"author-desc\">Alicia Wallace joined The Cannabist in July 2016, covering national marijuana policy and business. In her 14 years as a business news reporter, her coverage has spanned topics such as the economy, natural foods, airlines, biotech, retail,&#8230;<\/p>\n<\/div><\/div>\n<\/p><\/div>\n<p><!-- .row --> <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cannabis is a &#8220;big business,&#8221; and Constellation Brands has big aspirations in the space, the alcohol beverage company&#8217;s president said this week. <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[6880,5062,146,77,5577,9,6882,5019,1,3,61,1736],"tags":[6881,5063,2724,2655,5580,6883,5022],"_links":{"self":[{"href":"https:\/\/cannitrol.com\/blog\/wp-json\/wp\/v2\/posts\/8092"}],"collection":[{"href":"https:\/\/cannitrol.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cannitrol.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cannitrol.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cannitrol.com\/blog\/wp-json\/wp\/v2\/comments?post=8092"}],"version-history":[{"count":0,"href":"https:\/\/cannitrol.com\/blog\/wp-json\/wp\/v2\/posts\/8092\/revisions"}],"wp:attachment":[{"href":"https:\/\/cannitrol.com\/blog\/wp-json\/wp\/v2\/media?parent=8092"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cannitrol.com\/blog\/wp-json\/wp\/v2\/categories?post=8092"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cannitrol.com\/blog\/wp-json\/wp\/v2\/tags?post=8092"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}