Constellation Brands buys into legal cannabis

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In New York, Constellation Brands, a leading beverage alcohol company, acquired a minority stake in the Ontario, Canada-based Canopy Growth Corporation, a well-respected public company and leading provider of medicinal cannabis products.

Constellation has no plans to sell any cannabis products in the U.S. or any other market unless or until it is legally permissible to do so at all government levels. This investment and relationship is consistent with Constellation Brands’ long-term strategy to identify, meet and stay ahead of evolving consumer trends and market dynamics, while maintaining focus on its core total beverage alcohol business.

Canopy Growth Corporation is one of the earliest commercial players in Canada’s legal cannabis market and owns a collection of diverse brands serving customers in Canada and international markets where medicinal cannabis products are legal. The company has a market cap of more than C$2 billion and is traded on the Toronto Stock Exchange.