Diageo, the maker of some well known alcohol brands that include Guiness and Smirnoff, may be the next alcohol giant to be looking to invest in marijuana.

According to BNN Bloomberg, who cited sources familiar with the situation, Diageo Plc is pursuing a deal with a Canadian cannabis firm and is holding serious discussions with at least three major producers.

The sources revealed that Diageo has met with several Canadian companies over the last month over potentially striking a deal for an investment or collaboration to create new cannabis-infused beverages.

It also should be noted that an executive team from Diageo attended a Toronto marijuana conference last week and also held several meetings with marijuana companies in the city to discuss possible partnerships or an equity arrangement.

The discussions between Diageo and the companies are still private and a Diageo spokesperson declined to comment on the talks when reached by BNN Bloomberg.

The company did say however that it is “monitoring this space closely” last month.
Dan Mobley, Diageo’s corporate relations director, said the cannabis sector in North America was “still [in] very early days and that “we are monitoring very closely and seeing how the market is evolving.” He added, “Some [U.S.] states are more advanced than others, but the legal cannabis trade is taking share from the illegal trade.”

“Right now, they’re in the mix,” said one source involved in the discussions. “We have very close ties to the top of the [Diageo] decision-making tree.”

Not too long ago Constellation Brands announced a $4 billion investment into Canadian marijuana company Canopy Growth.


Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Colorado Gov. Sends Letter to Commend Biden Administration for Making Progress on Rescheduling Cannabis
07 September 2023
Marijuana Industry Veteran Kris Krane Joins KCSA Strategic Communications
26 August 2021
New Mexico Panel of Doctors Wants Higher Purchase Limits for Medicinal Marijuana
18 November 2020