Joint partnership: Second Cup teams with cannabis association to sell pot

Coffee sequence The Second Cup skeleton to open a network of recreational cannabis dispensaries, starting in Western Canada and afterwards potentially relocating easterly to other provinces where a drug is approaching to shortly be legal.

The coffee sequence announced on Thursday it is partnering with National Access Cannabis Corp. to rise and work a network of NAC-branded dispensaries opposite a country.

Founded in 1975, Second Cup now operates 286 coffee shops opposite a country. Ottawa-based NAC, meanwhile, describes itself as a health-care association that consults with patients to assistance them get entrance and prescriptions to medical marijuana. NAC now has 9 locations opposite six provinces, including 3 in Calgary and one any in Victoria, Saskatoon, Winnipeg, Toronto, Ottawa and Halifax.

National Access Cannabis now has 9 locations widespread opposite 7 provinces. (CBC)

The devise is for NAC to request for licences to allot cannabis once it is legal, and afterwards work with a coffee sequence to “leverage Second Cup’s endless Canadian sell footprint to erect sell stores,” as the companies put it in a press release.

It’s probable that certain stream Second Cup coffee shops would be converted into cannabis stores.

“We’ll demeanour to work with Second Cup to permit name storefronts, utilizing a proven business indication to broach secure, safe and obliged access,” NAC’s CEO Mark Goliger said.

The sovereign supervision is on lane to legalize recreational cannabis after this summer, though is leaving a logistics of how and where it can be sold to a provinces. Many provinces (most particularly Ontario) are opting to go with government-controlled monopolies, though some — including British Columbia, Alberta and Manitoba — devise to allow some form of cannabis sales by private retailers.

A consortium including NAC has already been selected by a provincial supervision in Manitoba as one of a companies that will be means to hoop sell sales once they turn legal.

Shares in both companies soared on a news, with Second Cup adult by about 30 per cent and NAC shares adult by about 10 per cent.

Robert Carter, executive executive of food services during investigate firm NPD Group, said he sees intensity in a partnership.

“The thought of a cannabis café,” he pronounced in an talk with CBC News, “I think there’s something there from an rising business model.”

He said the partnership is no certain thing, and Second Cup would have some issues with a fact that many of their locations are in residential neighbourhoods.

But with estimates of a distance of Canada’s recreational pot marketplace being adult to $2 billion in a initial year, he said the dual companies could both see advantages since they share a core patron demographic: millennials.

“The millennial conspirator is unequivocally tied into a whole coffee culture,” he said. “And branding from Second Cup with epicurean coffee might give some credit to cannabis.”

“There’s still so many unanswered questions,” Carter said, “but this is definitely creating some sparks and interest.”
 

Article source: http://www.cbc.ca/news/business/cannabis-second-cup-1.4615943?cmp=rss