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Marijuana Bet Paying Off for Alcohol Giant Constellation Brands

Employees work at a Canopy Growth Corp. facility in Smith Falls, Ontario, Canada.

Employees work at a Canopy Growth Corp. facility in Smith Falls, Ontario, Canada.

Photographer: Chris Roussakis/Bloomberg

Weed is paying off for the maker of Modelo and Corona.

The alcohol giant Constellation Brands Inc. set off a flurry of financial activity in the burgeoning cannabis industry when it announced in August that it had invested $4 billion in Canadian weed company Canopy Growth Corp.