Similar Stories to The Company Behind Corona Beer Is Investing Nearly $4 Billion In Legal Pot on Bing News

Bloomberg — Constellation Brands Inc., which for seven decades has made its money off beer, wine and whiskey, sees its future in a marijuana leaf. In the biggest (legal) cannabis deal, the Victor, New York-based beverage company will spend about $3.8 billion to boost its stake in Canadian grower Canopy Growth Corp., betting legalization will gain traction around the world and especially in the U.S. “This is rocket fuel,” Canopy Chief Executive Officer Bruce Linton said on the company’s earnings call Wednesday.

BING NEWS:
  • Beer can maker Ball Corp lags sales estimates on slowing demand
    Beer can maker Ball Corp missed quarterly sales expectations on Friday, hit by lagging demand for its beverage cans as customers become more frugal in their spending.
    04/25/2024 - 10:41 pm | View Link
  • Constellation Brands' Fiscal 2024 Earnings: Growth in Beer Segment Drives Profitability
    Constellation Brands' net sales rose by 5.4% to $9.96 billion. Additionally, operating income, which measures the profit a company makes from its core business functions, increased by 11.5% to $3.17 ...
    04/25/2024 - 6:33 am | View Link
  • Heineken sells more beer in Q1, sticks to outlook
    Heineken sold more beer than expected in the first quarter, reporting its first year-on-year growth in quarterly volumes in a year, as it kept its 2024 profit growth forecast.
    04/24/2024 - 4:00 am | View Link
  • Despite sticky inflation, Corona beer predicts better annual profit
    Constellation Brands, the producer of Corona beer, predicted an annual profit that exceeds Wall Street expectations due to consistent demand for its core beer brands despite sticky inflation ...
    04/14/2024 - 6:29 pm | View Link
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