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  • Post Time Posted October 02, 2018
PepsiCo appears to be the latest major company eyeing the legal cannabis market for potentially lucrative opportunities.

On CNBC’s Squawk on the Street, PepsiCo CFO Hugh Johnston told the shows hosts on Tuesday "I think we'll look at it critically, but I'm not prepared to share any plans that we may have in the space right now."

The news comes after Pepsi’s biggest competitor, Coca-Cola, announced that it was searching the cannabis industry for a potential partner, with reports that it was already in talks with Aurora Cannabis about a potential joint venture. Coca-Cola was reportedly looking to create a CBD infused health beverage, something Pepsico would likely be eyeing as well.

Major U.S. and Canadian companies have already begun partnering with legal cannabis companies, as Molson-Coors opened a Joint Venture with Hexo Cannabis, and Constellation brands, owner of Corona, put $5 billion into Canopy Growth Corp this past summer.


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