Liquor titan’s CEO: Alcohol companies eyeing cannabis industry

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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.