Martha Stewart's new role as cannabis adviser
Martha Stewart attends the 2017 Glamour Women of the Year Awards at the Kings Theater in Brooklyn, New York, U.S., November 13, 2017. REUTERS/Andrew Kelly
The deal between Sequential Brands Group Inc, which owns the Martha Stewart brand, and Canopy will seek to leverage Stewart’s knowledge of consumer products in the launch of products based on CBD, the non-psychoactive chemical found in marijuana. The U.S. Food and Drug Administration has prohibited companies from adding CBD to food but many drinks companies have announced plans to use it.
Cannabis companies in Canada have been pouring cash into their businesses to both fend off competition and develop new products, especially after the country approved the use of recreational marijuana in October.
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