Second Cup Is Converting Two of Its Alberta Stores To Cannabis Dispensaries, Reviewing Future Strategies
Canadian coffee chain Second Cup is dipping into recreational cannabis.
The board of the company acknowledges that while they have reported improved financial results since initially announcing its plan to sell recreational cannabis, they are still engaging in a strategic review of the chain following their latest assessment, according to Bloomberg.
Although they are not guaranteeing any avenues will be pursued as a result of the review, some expect that they will continue to pursue strategic growth within the cannabis industry, so long as it remains profitable.
They had announced their first two cannabis locations back in April as a joint venture with National Access Cannabis Corp. The converted stores will operate under the Meta Cannabis Supply Co. brand and would not sell coffee.
The company has favorably compared the venture to its partnership with Pinkberry frozen yogurt, which they currently sell in 84 Canadian stores, and say is an important contributor to overall sales and transactions.