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AB InBev CEO on Legalization: “we don’t feel we need to do anything”

Jacob Ellman by Jacob Ellman
June 21, 2018
in Business, Canada, Consumers, Executives, Investments, Lifestyle, Marijuana Stocks, People, Products, United States
Anheuser-Busch InBev
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Anheuser-Busch InBev

 

Anheuser-Busch InBev (NYSE:BUD), the largest brewer in the world, is known for its popular beer brands ranging from Budweiser to Modelo. At the helm of this $190 billion dollar company isΒ CEO Carlos Brito.

With a Masters of Business Administration from Stanford University, Brito is a bright guy for sure. Given his position at A-B InBev, a company with a lot to lose as cannabis legalization continues, we were shocked to hear that he’s not worried.

‘We don’t feel we need to do anything’

In a recent interview with global beverage industry news portalΒ just-drinks, Brito was either making an honest effort to keep A-B InBev investors from worrying, or he’s completely in the dark on the cannabis industry’s impact on his business.

“We’ll continue to follow it,” A-B InBev CEO Carlos Brito said. “But, for now, we don’t feel we need to do anything.”

A recentΒ study conducted by multiple researchers from multiple universities concluded thatΒ counties within the states that have legalized medical marijuana showed a roughly 15% reduction in monthly booze sales.

A-B InBev is late to the game

This alarming statistic shows a nearly direct correlation between cannabis legalization trends and falling alcohol sales, yet A-B InBevΒ is still just watching.Β Last October however, A-B InBev competitor Constellation Brands (NYSE:STZ) (NYSE:STZB) took action in a big way.

Last fall, the Fortune 500 alcohol giant behind Corona took a 9.9% stake in Canadian marijuana producer Canopy Growth Corp. (NYSE:CGC) (TSX:WEED) for $245 million CAD, only to follow up with the purchase of an additional $200 million CAD worth of Canopy’s debt this week.

What’s A-B InBev missing?

After the move by Constellation Brands, many are wondering what A-B InBev is waiting for. With billions of dollars on the balance sheet, money isn’t the issue. So, what is A-B InBev missing?

While Brito did admit that “there’s a big tidal wave coming,” taking no action seems foolish. His less-than-a-week-old point that Canada is “finding lots of issues as they go along the path to legalization,” is already moot.Β Just the other day, Canada’s senate passed historic Bill C-45 to legalize and regulate recreational marijuana nationwide.

Conclusion

With October 17th, 2018 set as the first day Canadians will be able to consume cannabis recreationally without criminal penalties, maybe A-B InBev will break into action.

After all, why drink Buds when you can burn them?

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Tags: alcoholAnheuser-Busch InBevBudweiserCanopy Growth Corp.Carlos BritoConstellation Brands Inc.featuredjust-drinksModeloNYSE:BUDNYSE:CGCNYSE:STZNYSE:STZBTSX:WEED

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Jacob Ellman

Jacob Ellman

Jake Ellman is the Founder and CEO of DMO Holdings. DMO Holdings is the owner and operator of DailyMarijuanaObserver.com, MJobserver.com, and more. Prior to joining the cannabis industry, Jake was a derivatives trader on Wall Street. His thought leadership in the marijuana space has been featured on Cheddar, Investing.com, Seeking Alpha, Investopedia, The Fresh Toast, and more.

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