Constellation Places $4 Billion Bet On CannabisAugust 15, 2018
In case you missed this morning’s News Alert, Constellation Brands has announced a major investment in the cannabis business. After initially acquiring a 9.9% stake in Canadian cannabis producer Canopy Growth for $191 million last year, Constellation will now pour a further $4 billion into Canopy Growth to bring its ownership interest to 38%. Constellation has also acquired warrants to take its stake in Canopy to above 50% looking ahead. Here’s the full story.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.