The legal cannabis industry has always been a no-go zone for many of the major manufacturers and retailers out there. The legal grey area that cannabis has been living in for years has kept many major corporations from even thinking about jumping into the waters. However, with the recent widespread legalization in Canada and the growing popularity and legality in the United States, many companies are starting to see the benefit of investing in the cannabis community and launching businesses around cannabis.
Companies such as Amazon, Home Depot, Walmart, and Coca-Cola are no longer feeling the same concerns about getting in on the booming legal cannabis industry. Despite not being able to come out and say that they want to invest in the market, many of these companies are seriously looking into bringing in CBD-infused products into their marketplaces in order to take advantage of the profitability of this burgeoning industry.
Cannabis is swiftly becoming one of the fastest growing business sectors in North America, making it an ideal investment for large corporations. No longer are multi-billion dollar companies afraid to associate with companies connected to legal cannabis. As more states go legal and as Canada gears up to implementing recreational cannabis, more corporations are going to come out of the woodwork in support of the industry. With how profitable the market is, there is little reason not to jump on board.
Walmart Canada Strikes Deal With American Cannabis Company
Walmart (NYSE: WMT) has vehemently denied any association with the legal cannabis industry for years, but the company has recently taken step towards reversing that stance. Denver based American Cannabis Company (ACC) has recently signed a major distribution deal with Wal-Mart Canada, among other large corporations, to distribute its products to the mainstream market.
ACC produces high-quality ancillary products designed specifically for the legal cannabis industry, and the company has managed to strike a deal with Wal-Mart Canada, Amazon, and Home Depot to sell their Sottum Living Soils and Dr. Marijane Root Probiotic through online services. Though these products will not be available physically in store, that does not seem to be much of an issue, according to ACC. The majority of sales nowadays are online, making this a fantastic move for both ACC and the corporations tied up in the distribution deal.
Coca-Cola and Aurora Cannabis Set to Make Big Moves
The American Cannabis Company may be making a push for online distribution, but there is another major company that could be entering into the mix in the legal cannabis market. Coca-Cola (NYSE: KO) announced plans last month to join up with Aurora Cannabis and produce CBD-infused drinks as part of the company's efforts to provide healthier alternatives to soda.
CBD is booming right now, with companies popping up all over looking to capitalize on the influx of interest in this non-psychoactive product. Due to its medicinal benefits and the widespread legality of the product, many companies are able to look past the stigma surrounding cannabis and focus on the numerous positives that using CBD infused products provides. Though exact information is still not out about what Coca-Cola has in the works, it is safe to say that the mainstream is finally starting to change its outlook on legal cannabis and CBD.