Deals
Corona Beer Giant Puts $3.8 Billion Bet on U.S. Love of Cannabis
- Canopy shares surge as Constellation raises stake in grower
- This investment is ‘rocket fuel,’ Canopy CEO Linton says
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Constellation Brands Inc., which for seven decades has made its money off beer, wine and whiskey, sees its future in a marijuana leaf.
In the biggest (legal) cannabis deal, the Victor, New York-based beverage company will spend about $3.8 billion to boost its stake in Canadian grower Canopy Growth Corp., betting legalization will gain traction around the world and especially in the U.S.