Retail Blog: Week of 10/30/2017

Corona beer owner set to buy into world’s largest cannabis grower

 

As more and more legislation is worked on regarding the recreational use of marijuana, more large companies are beginning to look into taking advantage of this industry, including Constellation, the owner of Corona.  Constellation has currently agreed to buy a 9.9 percent stake in Canopy Growth Corporation; the largest publicly traded Marijuana company.  The beer distributer is reportedly planning on working with the company to market, develop, and sell cannabis infused beverages.  Although recreational use of marijuana is legal in a select few states in the U.S., Constellation does not plan on marketing this product in the states until marijuana is legal nationwide.  The company does however plan on marketing the product in countries where the recreational use of marijuana is legal such as Canada where legislation is supposed to become more relaxed in the near future.  This obviously can cause a stir in the political realm for the company, but they show no signs of hesitation with their statements and will be expected to continue working on the project along side Canopy Growth.

 

https://www.cnbc.com/2017/10/30/cannabis-drinks-planned-as-constellation-brands-invests-in-canopy-growth-corporation.html