George Weston Ltd. consistently ranks among any list of Canadian public companies largest revenue generators.
It was first on the Financial Post 500 in 2016, then came fourth in 2017 with $48 billion in sales.
As the controlling shareholder in Loblaw Companies Limited, George Weston Ltd. is also in control of Shoppers Drug Mart.
But it could grow even bigger if it achieves its goal of expanding its footprint into the cannabis trade.
Today, Shoppers Drug Mart reached a deal with Aurora Cannabis Inc., which is one of Canada’s best known weed companies.
Aurora will become a medical cannabis supplier to Shoppers Drug Mart should Health Canada approve the retailer’s application to become a licensed producer.
‘It is expected the products will be sold online, as Canadian regulations currently restrict the sale of medical cannabis in retail pharmacies,’ Aurora said in a news release.
The Task Force on Cannabis Legalization and Regulation, which was chaired by former deputy prime minister Anne McLellan, recommended that wholesale distribution of cannabis be regulated by provinces and terroritories.
It also called for no co-location of cannabis sales with alcohol or tobacco, as well as access to cannabis via a direct-to-consumer mail-order system.
The B.C. government has announced that it will allow British Columbians of legal age to buy nonmedical cannabis through private retail stores and B.C. government-owned stores, as well as through ‘government online sales’.
‘In urban areas, licensed retailers will only be allowed to sell cannabis and cannabis accessories, and will be prohibited from selling other products, such as food, gas, clothing and lottery,’ the B.C. government said in a news release earlier this month.