Sep 18, 2018
Canopy’s Linton takes shot at Aurora: ‘People have to learn to run their businesses’
The head of Canopy Growth Corp. took a shot at its rival Aurora Cannabis Inc. on Tuesday, warning that potential deals risk falling apart when companies’ discussions are made public. The comments come after BNN Bloomberg reported Monday that Edmonton-based Aurora is in talks to produce cannabis-infused drinks with the world’s largest beverage maker, The Coca-Cola Co.
“People have to learn to run their businesses,” Canopy Chairman and Co-CEO Bruce Linton said, when asked about a potential Coca-Cola and Aurora deal, in an interview with BNN Bloomberg’s Andrew Bell.
“Did you have me on your show to talk about the rumours of us doing something with Constellation [Brands]? No,” Linton added. “These deals fall apart when you make them public discussions.”
Linton’s comments come after Aurora CEO Terry Booth told BNN Bloomberg Monday that the pot producer had held discussions with at least three beverage companies in the past three months. Aurora released an official statement Tuesday saying it does not have an agreement in place with any beverage companies, and confirmed that it has engaged in exploratory discussions with a number of firms.
Last month Canopy shook up the industry after U.S. alcohol giant Constellation Brands invested another $5 billion in the pot producer for a nearly 40 per cent stake.
When asked if he was surprised about Coca-Cola’s interest in the marijuana sector, Linton said cannabis is the most disruptive ingredient to at least three sectors – sports medicine, pharmaceuticals and alcohol.
“I think there won’t be any name that is a substantial consumer packaged goods [company], pharma company that you don’t see in this sector if they actually want to have a future that sort of benefits from disruption rather than … fear it,” Linton said.
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