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Sep 20, 2017

Couche-Tard ‘monitoring’ cannabis retail opportunities

Alimentation Couche-Tard CEO hopes to get in on cannabis sales

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Alimentation Couche-Tard's chief executive officer is keeping the door open to stocking recreational cannabis.

"Cannabis is a sector we're monitoring," Couche-Tard CEO Brian Hannasch told BNN in an interview Tuesday, while noting he wouldn’t want to “jeopardize” his company’s brand.

"We think we're very good at serving the community, very good at managing age-restricted sales in a responsible and efficient way,” Hannasch said. “So if the governments believe we can play a role in that we'd love to engage and understand if there's mutual opportunities."

The federal government has a timeline to legalize marijuana in July 2018. Two provinces have recently outlined their distribution plans.

In Ontario, the government said earlier this month the province's liquor control board will hold the keys to retail via stand-alone stores. Last week, New Brunswick announced it's establishing a Crown corporation to oversee sales.

 

McCreath: Couche-Tard better off sticking with North American market

BNN Commentator Andrew McCreath weighs in on Couche-Tard CEO Brian Hannasch's comments about expansion plans for Asia. McCreath says that money could be put to better use in North America and Europe where the company already has a large footprint. He also provides his take on Ottawa's tax plan.