Constellation Brands Invests in Cannabis

Constellation Brands, beer conglomerate and owners of the Corona brand are looking to bring a different kind of buzz to the market. The owners of Ballast Point, Modelo and Charles Smith Wines among other prominent alcohol brands have invested an almost 10% stake into Canadian cannabis company Canopy Growth Corp. The $181 Million deal, $245 Million Canadian, makes a huge step into a new market but eventually the company hopes to bring these collaborative wares to the US. “We’re obviously trying to get a first-mover advantage,” stated Chief Executive Rob Sands who sees full legalization coming sooner than not “Given what’s happened at the state level”. The company has expressed interest specifically in developing cannabis drinks that contain no alcohol to hit the market by 2019 in time for Canada’s presumed edible legalization after next Summer’s law changes. Research firms estimate the Canadian recreational market could generate upwards of $10.2 Billion US dollars, with obviously more to be made here in the good ole’ USA!

No Comments Yet

Leave a Reply

Your email address will not be published.