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Constellation Buys Some Pot

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Constellation Brands – owner of mega-popular Corona beer – has entered into a deal with Canadian cannabis company Canopy Growth to invest a whopping $4 billion and take Constellation to 38% ownership in the company.

Constellation already handed over $200 million to Canopy last year in the hopes of producing a non-alcoholic cannabis-based beverage but this investment is intended to take advantage of the worldwide trend of cannabis legalization with the Toronto-based Canopy positioned as Canada’s top cannabis producer as well as being one of the world’s largest legal cannabis producers with products such as cannabis-based oils and soft gel caps, amongst others. Constellation’s latest investment will reportedly allow Canopy to expand its products to include edible bars, inhalers, pre-rolled items and develop cannabinoid-based medicines.

In addition to Corona, Constellation makes and markets a wide variety of beer, wine and spirits in the Canada, Italy, Mexico, New Zealand and the USA.

Constellation is making the move now because the Canadian government passed a bill two months ago which will legalize the recreational cannabis market in the country when it is set to be “rolled out” in October 2018.

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