MJ’s underlying portfolio includes 8.6% Tilray and 7.3% Aurora Cannabis.
A partnership between Coke and Aurora would mark the first entry of a major non-alcoholic beverage manufacturer into the market of marijuana-related products.
Alcoholic beverage producers have already eyed the cannabis market as a next step. For instance, Corona beer brewer Constellation Brands said it would spend $3.8 billion to increase its stake in Canopy Growth. Molson Coors Brewing began a joint venture with Hexo’s Corp, formerly known as Hydropothecary Corp. Diageo, the maker of Guinness beer, is in talks with three Canadian cannabis producers.
More attention is being focused onto the cannabis industry as U.S. states move to legalize marijuana for recreational use and Canada, where Aurora is based, plans to fully legalize marijuana for recreational use next month, mid-October.
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