CoronaBeerImageViaWikimediaCommons

The Company Behind Corona Beer Just Bought Into the Marijuana Business

The $42 billion company behind Corona, Modelo, and Svedka is betting on marijuana’s national legalization.

Constellation Brands stz-b announced Monday that it had agreed to take a 9.9% minority stake in the $2 billion Canadian medical marijuana company Canopy Growth.

The stake is worth about $191 million, though Constellation will have the option of purchasing additional stakes in the future.

Using Canopy’s expertise, Constellation is attempting to create cannabis-infused drinks, the Wall Street Journal reported after an interview with Constellation’s CEO.

Read More at Fortune.com



CANNABIS ENTREPRENEURS
READ BLUNT

SIGN UP FOR FREE WEEKLY CANNABIS
BUSINESS NEWS, ANALYSIS AND ALERTS