Constellation Brands has made the biggest investment the marijuana industry has ever seen with a mighty $4 billion going to Canopy Growth. Canopy Growth, a Canadian company, was already considered one of the giants of the cannabis industry, and this investment will only further their global footprint, according to a report from Esquire. Meanwhile, Constellation is diversifying its portfolio, which currently consists of major alcohol brands, such as Modelo and Corona.
The relationship between Constellation and Canopy Growth is not a new one. Last year, Constellation made an investment in the company of $191 million to develop a drink infused with cannabis. Now, with Canada passing full legalization of marijuana, Constellation executives are getting on board one of most anticipated industries in the world in a more substantial way; they now hold a 38 percent stake in Canopy Growth. The most recent investment won’t just go to beverage research, but also into edibles, new medical marijuana advancements, and worldwide growth. Continue reading