The Financial Post reports in its Tuesday edition that celebration over the legalization of cannabis in five more U.S. states was hardly over when attention turned to what this all means for industry heavyweights in Canada.
A Bloomberg dispatch to the Post reports that several of the largest Canadian firms posted quarterly results last week, putting them under the microscope as Wall Street tries to figure out how they will grow while largely shut out of the rapidly expanding U.S. market. Some are finding ways in, others are searching beyond.
chief executive officer David Klein is focused on building a brand so strong and distinctive that consumers demand retailers carry it. It already has a deal with Acreage Holdings to move into the U.S. within 60 days of federal legalization. Canopy, which plans to produce cannabis-infused beverages, may try to emulate its majority shareholder, Corona beer maker Constellation Brands.
Aurora Cannabis CEO Miguel Martin is not interested in a partnership along the lines of Aphria's recent deal with a craft brewery to get into the market.
Mr. Martin says: "I don't think we need it right now. I've been in the beer business, there's not synergy there."
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