PART OF CANNABIS AND SMALL BUSINESS AND RETAIL
Diageo Plc is having discussions with at least three Canadian cannabis producers, BNN Bloomberg TV reported, citing people close to the situation whom it didn’t identify.
The U.K. spirits maker has met companies in the past month as it considers a possible investment or alliance to make cannabis-infused beverages, the Canadian television station said on its website. One executive told BNN a deal may take months, while another said a deal may be close.
A Diageo representative declined to comment to BNN but said the company is “monitoring this space closely.”
Canada’s legalization of recreational pot, which begins in October, has attracted broad interest from the drinks industry. This month, Constellation Brands Inc. announced it’ll spend $3.8 billion to increase its stake in Canopy Growth Corp., one of the biggest deals in the burgeoning marijuana industry yet. Molson Coors Brewing Co. is starting a joint venture withHydropothecary Corp. to develop cannabis drinks in Canada.
BNN, owned by BCE Inc.’s Bell Media unit, entered a content-sharing partnership with Bloomberg Media earlier this year.