This morning, cannabis stocks ripped as it was reported that U.K.-based liquor conglomerate Diageo Plc (NYSE:DEO) is in talks to do a deal with a major Canadian producer.
Everyone is curious which Canadian cannabis company is Diageo’s target. We have a hint…
Although the company’s CEO wasn’t impressed by the HEXO deal with Molson Coors, back on April 25th, 2018, Aphria Inc. (TSX:APH) (OTC:APHQF) announced the appointment of Jakob Ripshtein as the Company’s first Chief Commercial Officer.
“Mr. Ripshtein most recently served as Chief Financial Officer of Diageo North America, a position he has held since 2016. In his 10 years with Diageo, he also served as President of Diageo Canada and also held a variety of Finance and Commercial roles in Canada, the United States and England. While serving as CFO and President of Diageo Canada concurrently, Mr. Ripshtein managed Diageo Canada’s overall operations and resources and strove to continually improve Diageo’s relationships with its critical stakeholders – brokers, Provincial Liquor Regulators, and Provincial and Federal authorities. Prior to Diageo, he oversaw business, sales and tax functions in the Canadian spirits, pharmaceutical and financial sectors.”
A quick look at his LinkedIn profile confirms his tenure there, and leads me to believe this could be Diageo’s Canadian cannabis target.
For now, it is just my opinion, and just my assumption. I could be wrong, but you heard it here first. In the meantime, be sure to subscribe to Cannabis Stock Updates here so you never miss an important update.
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