06:26:14 EDT Tue 16 Apr 2024
Enter Symbol
or Name
USA
CA



Molson Coors Canada Inc
Symbol TPX
Shares Issued 14,691,557
Close 2018-08-15 C$ 94.01
Market Cap C$ 1,381,153,274
Recent Sedar Documents

Globe says Molson sees the writing on the wall too

2018-08-16 07:07 ET - In the News

Also In the News (C-HEXO) Hydropothecary Corp (The)
Also In the News (C-WEED) Canopy Growth Corp

The Globe and Mail reports in its Thursday edition that Constellation Brands' move to take effective control of Canopy Growth, Canada's largest weed producer is the biggest signal yet that alcohol companies see the drug as a way to revive their sluggish growth prospects. The Globe's David Ebner writes that Constellation said on Wednesday it will invest $5-billion in Canopy Growth to help fuel the Canadian company's international growth plans. Constellation chief executive officer Rob Sands said cannabis markets around the world are "opening up much more rapidly than appreciated." Molson Coors Brewing recently concluded it had no choice but to follow in Constellation's footsteps. Molson announced a joint venture with marijuana grower The Hydropothecary. They plan to produce cannabis-infused non-alcoholic drinks. Molson CEO Mark Hunter said on Aug. 1 the question the brewer weighed about getting into cannabis was simple, "Do we want to be a spectator or a participant?" Among the trends Cowen and Co. analyst Vivien Azer sees is young adults more open to cannabis and more skeptical of alcohol, as well as drinkers consuming less in single sittings. She believes alcohol could be under pressure for the next decade.

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