Getting Into Cannabis Will Ruin Coca-Cola’s ‘Wholesome Image’, Say Warren Buffett And Charlie Munger
Does Coca-Cola mix will with cannabis? Amid rumors that the Coca-Cola Co. is considering infusing its drinks with cannabis, investors Warren Buffett and Charlie Munger speak out against the idea. They both claim Coca-Cola getting into cannabis would destroy the company’s “wholesome image.”
Buffett and his right-hand man, Munger, have officially advised Coca-Cola not to get into the cannabis business. You see, “Buffett’s Berkshire Hathaway is the largest investor in the soft-drink maker, owning a $19.5 billion stake,” Business Insider reported. This is about a 10 percent stake in the beverage company.
Earlier this year it is believed Coca-Cola met with cannabis producer Aurora Cannabis about partnering to make CBD-infused beverages. Apparently, the talks failed.
“It would be a mistake for Coca-Cola to get into the marijuana – cannabis business,” Buffett and Munger both told Fox Business Network’s Liz Claman. “They have a wholesome image and that would be detrimental to it.”
Coca-Cola has said the rumors of it entering the cannabis business are not true — at least not yet. “Executives at Coca-Cola have said the company does not plan on getting into the cannabis space anytime soon,” Business Insider reported.
Even though Buffett is against the idea, America’s CBD market is expected to increase from $1 billion in 2019 to $16 billion by 2025, according to the Cowen analyst Vivien Azer.
Even though Coca-Cola says it’s not considering CBD infused drinks yet, it is, however, teaming up with bartenders and created four flavored mixers for premium dark spirits but these products are not marijuana-related, reported The Spirits Business.