Liquor titan’s CEO: Alcohol companies eyeing cannabis industry

The CEO of one of the world’s largest liquor companies says the alcohol industry is keeping close tabs on the marijuana market – with one eye on the future.

“We look at it closely. The whole sector is watching it closely,” said Alexandre Ricard, the CEO of Pernod Ricard, The Telegraph reported.

Pernod Ricard is a France-based spirits company that distributes brands such as Absolut Vodka, Chivas Regal Scotch whisky and Beefeater gin.

The admission from Ricard comes on the heels of two separate industry heavyweights investing heavily in the global future of cannabis: Liquor giant Constellation Brands entered the market last year and tobacco company Alliance One International did so last week.

One comment on “Liquor titan’s CEO: Alcohol companies eyeing cannabis industry
  1. Duncan20903 on

    Alliance One (AOI) needs to have its market cap increase by almost 30% to stop being called a “micro cap” and considered a “small cap” stock. That’s not anywhere near “industry heavyweight” based on a laugh test.

    AOI market cap: $196 million
    MO (Altria) market cap $1,250 million
    PM (Philip Morris International) 1,620 million

    Until about 10 years ago Altria and Philip Morris were one company.

    Reply

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