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Constellation Gains Approval For $4 Billion Cannabis Investment

November 2, 2018

Constellation Brands’ previously announced $4 billion investment in Canadian cannabis producer Canopy Growth has closed, after gaining shareholder and Canadian government approval.

With the investment, Constellation increases its ownership interest in Canopy Growth to approximately 37% of the company’s outstanding shares, and gains four seats on the board of directors.

In an interview with SND, incoming Constellation CEO Bill Newlands called the investment in Canopy “a tremendous upside opportunity, and an offensive play for us.” He added, “We consider (cannabis) as a potential once-in-a century change in consumer behavior.”—Daniel Marsteller

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