An association with a huge tobacco company isn’t exactly what the nascent cannabis industry needs, according to a story by John Foley for Reuters, citing early talks between Cronos, the Canadian pot producer, and Altria.
Foley concedes that big tobacco companies could provide the capital needed for the sort of rapid expansion that the cannabis industry was likely to see, but he says that such associations might have an image problem.
The trouble was, Foley said, cannabis wasn’t quite like tobacco, nor should it want to be seen that way.
Cannabis producers aspired for their product to be seen as medicinal rather than lethal, for one. Much future usage wouldn’t be smoked but eaten, taken as oils or even applied as cosmetics. Moreover, pot growers would prefer not to be regulated in the same draconian way as tobacco.
In some cases, weed producers could be selective. Canopy Growth in August announced a $4 billion investment from brewer Constellation Brands, targeting a North American infused-beverage market Berenberg thinks could reach $13.2 billion.
Others might turn to pharmaceuticals companies, or even personal-goods makers.
‘Tobacco companies have cash and urgency, but their unmistakable aroma is something Big Weed can do without,’ Foley said.
Tag: North America
Seeking a pot of gold
Promotion at Villiger
Villiger Cigars said yesterday that Hector J. Pires (pictured, right) had been promoted to national sales manager for Villiger Cigars North America, with immediate effect.
Pires was previously south eastern territory manager, a position now filled by new-hire Roger Peña.
Pires, who was born and educated in Caracas, Venezuela, holds a degree in international trade. After rising through the ranks of his family’s restaurant group in Caracas, he moved to Miami to open a restaurant serving international cuisine, which he ran for 10 years.
At this point, he decided to sell the restaurant and follow his passion for tobacco, which had been with him since his early 20s.
“Hector has been a great asset to Villiger Cigars over the past year-and-a-half, and has proven that he can be an effective leader for our sales staff,” said Rene Castañeda (pictured, left), president of Villiger North America. “I look forward to working closely with him as we continue to spread the Villager message to our retailers and consumers.”