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Report: MillerCoors parent company looking at pot industry

Posted at 9:25 PM, Nov 03, 2017
and last updated 2017-11-04 00:55:44-04

The parent company of MillerCoors is considering experimentation with the pot industry. 

According to our partners at the Milwaukee Business Journal, the CEO of Molson Coors Mark Hunter said the company has a team looking into the opportunities but declined to give specifics.

"Obviously, being based here in Colorado, we're very familiar with cannabis, as it's been legalized here. And clearly this is something that, as the whole legal landscape continues to change, we're actively working to understand. We have a team of people working on that. We're looking at potential impacts and/or the opportunities associated with and we're developing a range of responses," Hunter told the Business Journal. 

Molson Coors isn’t the first company to show interest in marijuana. Constellation Brands Inc., the distributor for Corona beer, purchased a stake in a Canadian marijuana business Canopy Growth Corp. for about $190 million for 10 percent. 

 Molson Coors is based in Colorado, where recreational marijuana is legal.