One of the Biggest Beer Companies in the US Just Invested $200 Million in Canadian Weed

One of the Biggest Beer Companies in the US Just Invested $200 Million in Canadian Weed

7 years ago
Anonymous $ZOEEBQ1zf0

https://motherboard.vice.com/en_us/article/evbv8j/one-of-the-biggest-beer-companies-corona-modelo-in-the-us-just-invested-dollar200-million-in-canadian-weed-marijuana-legalization

America is on the cusp of a weed revolution, and it's got many alcohol giants nervous about legal pot eating into their profits. But at least one major brewer has decided rather than fight Big Marijuana, it's going to join them, investing nearly $200 million in a Canadian weed company.

Constellation Brands, Inc. is a New York-based Fortune 500 company that makes and exports beer brands including Corona and Modelo to the US. Constellation has purchased a 9.9 percent stake in Canopy Growth Corporation, a Canadian weed startup, at a price tag of $191 million US.