Couche-Tard desires to be a player in the sale of cannabis – Cannabis News | Way of life Ideas | Professional Opinions

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LAVAL, Que. — Alimentation Couche-Tard Inc. desires to be 1 of the “key players” in the North American cannabis industry by utilizing its position in Canada, exactly where the use of this substance for recreational purposes is legal, to reach this objective.

But the expertise to be created by the operator of comfort shops and gas stations will have to be performed outdoors of Quebec for the reason that of provincial guidelines governing the sale of marijuana, corporation founder and executive chairman Alain Bouchard stated following its annual meeting.

Unable to penetrate the Quebec industry, the Quebec multinational has invested in Alberta retailer Fire &amp Flower, which could allow it to ultimately obtain a majority stake in this corporation.

This is in addition to its current partnership with Canadian cannabis giant Canopy Development surrounding the operation of private shops.

Even although the recreational cannabis industry is nevertheless in its infancy, Couche-Tard desires to go out of its way to set up a approach that is prepared to be deployed exactly where regulations enable it, Bouchard adds.

The parent corporation of Circle K has turned its sights to the United States, exactly where some states have eased the guidelines on marijuana, says CEO Brian Hannasch, who notes the retailer has lengthy expertise promoting age-restricted merchandise.

Couche-Tard has currently began promoting cannabidiol (CBD) merchandise, a compound with prospective medicinal qualities but with no considerable levels of THC — a compound in cannabis that produces a higher.

This report by The Canadian Press was very first published Sept. 18, 2019.

Firm in this story: (TSX:ATD.B, TSX:WEED)

The Canadian Press

Featured Image: THE CANADIAN PRESS/Ryan Remiorz

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