Walmart Canada looks into selling cannabis-based products

Walmart Canada has been investigating the possibility of selling cannabis-based products but doesn’t intend to get into the much-hyped business yet.

“As we would for any new industry, Walmart Canada has done some preliminary fact-finding on this issue, but we do not have plans to carry CBD products at this time,” spokeswoman Diane Medeiros said in an email.

She was referring to cannabidiol, a non-psychoactive compound found in cannabis plants.

The company also has no plans to dispense medical marijuana at its pharmacies “at this time,” Medeiros said.

Interest in CBD has been booming as Canada prepares to legalize recreational marijuana next week and several large alcohol and consumer products companies have indicated they’re studying CBD’s commercial possibilities.

Coca-Cola said last month that it’s “closely watching the growth of non-psychoactive CBD as an ingredient in functional wellness beverages around the world.”

Constellation Brands, the maker of Corona beer and Robert Mondavi wine, has indicated an interest in selling CBD -infused drinks through its partnership with Canopy Growth Corp., and Molson Coors Canada has formed a joint venture with Hexo Corp. to develop cannabis beverages.

When PepsiCo said last week that it has no plans to invest in cannabis, its shares took a dip.

Other Canadian retail outlets are moving into the pot space. Shoppers Drug Mart, owned by Loblaw, last month received approval from Health Canada to become a licensed medical marijuana producer, opening the door for its pharmacies to dispense medical cannabis to patients.