It seems that Big Alcohol is not seeing Big Marijuana as a threat, but rather a profitable opportunity. Moves made by some top companies such as Molson Coors, Anheuser-Busch (NYSE:BUD) and Constellation Brands are proof. And it goes the other way around, too. Irwin D. Simon, CEO and chairman of Canadian cannabis giant Tilray Brands, Inc. (NASDAQ:TLRY) has been bullish equally on both marijuana legalization and beer.
Tilray’s acquisition of eight beer and beverage brands from Anheuser-Busch made it the 5th largest craft beer business in the U.S. “I’m buying these brands too because I think there’s a big opportunity in the beer business and my whole strategy is craft beer,” Simon told BNN Bloomberg in last year’s TV interview.