Constellation was among the first major alcohol producers to invest in marijuana production when it pumped nearly $200 million into Canopy last year but the latest announcement makes it by far the biggest investment in the industry. Canada, where 4.4 million people reported using the drug in the first half of the year, will fully legalize the recreational use of cannabis in October. Constellation, Molson Coors and Anheuser-Busch are all using the move by the United States’ northern neighbor to hedge their bets for the future at a time when beer sales, roughly 60 percent of Constellation’s business, …read more
Source:: Yahoo Finance
