Comment on Corona beer brewer extends pot bet with $3.8 billion investment

Corona beer brewer extends pot bet with $3.8 billion investment

By Eric Pfanner, Kristine Owram and Jen Skerritt Constellation Brands is spending C$5 billion ($3.8 billion) to boost its stake in Canadian cannabis grower Canopy Growth Corp., betting legalization of the drug will continue to gain traction in the U.S. and around the world. Constellation, the brewer of Corona beer, will raise its stake in Canopy to 38 percent in what the companies described was the biggest investment in the burgeoning marijuana industry yet, according to a statement Wednesday.

 

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