Coca-Cola CEO Denies Plans to Develop CBD Drink
Last month, rumors started going around about the possibility of Coca-Cola entering the CBD market with a new, infused beverage. And by September 17, Bloomberg was reporting on “serious talks” between Aurora Cannabis, a major Canadian cannabis company, and Coca-Cola. Unnamed sources insisted the two companies were in the advanced stages of negotiating a drink deal. Publicly, however, Coca-Cola dodged questions about the talks, saying only that it was keeping an eye on the CBD space. Aurora likewise declined to issue any comments about the rumored talks.
But Aurora’s stock price still soared 23 percent the day the rumors became public. Ultimately, though, the rumors proved they didn’t have much staying power. At the same time, investors seemed to reason, why wouldn’t Coca-Cola pursue partnerships in the multi-billion dollar legal cannabis industry? Today, however, Coca-Cola CEO James Quincey put to rest any lingering sense that the rumors were true.
Coca-Cola CEO Says There are No Plans for a CBD Beverage at This Time
Speaking with investors over the phone on Tuesday, Coca-Cola CEO James Quincey fielded a question about the CBD drink deal with Aurora. That’s a “simple one,” Quincey replied, reports Business Insider. “We don’t have any plans at this