AB InBev watching the legal marijuana market closely
Legalisation is important ‘for us as a beer company’ and for society as a whole, the group says
The world’s biggest brewer, Anheuser-Busch InBev (AB InBev), says it is keeping a close eye on the burgeoning cannabis market as some of its peers forge ties with marijuana companies. “We are closely following legalisation trends in the cannabis industry in North America – Canada and the US,” a spokesperson for the group said, asking not to be named. AB InBev, which is in the process of integrating SABMiller after buying the brewer for $100bn, said on Thursday its revenue grew 4.5% to $14.7bn in the September quarter thanks to slightly higher beer volumes. But the stock plunged 10.59% on Thursday after it said it had to cut its interim dividend to pay off debt. “Recent trends in Canada and in certain US states toward legalisation of recreational marijuana are an important development – not only for us as a beer company but for society as a whole,” the spokesperson told Business Day. There remained “many unknowns” regarding the long-term commercial and societal effects of legalisatio...
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