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Constellation Brands, the company behind Corona Beer, has acquired a huge stake in marijuana company Canopy Growth last October, an investment that has already allowed the company to make huge profits.
Canopy Growth is the largest publicly traded marijuana company in the world. Since November, the company's shares have risen by more than 285%. Constellation has announced plans to invest an additional $ 4 billion in the company by the end of the month.
"Our $ 4 billion investment in Canopy Growth positions us well in the emerging cannabis market, which could be one of the most important growth opportunities of the next decade," said Rob Sands. CEO of Constellation, in a statement.
After its additional investment, Constellation will own 38% of Canopy Growth.
Constellation is not the only manufacturer of alcoholic beverages to engage in the legal marijuana trade. Anheuser-Busch would be about to invest in the cannabis market. Lagunitas, of Heineken, recently started selling both a beer and a soda water made from cannabis.
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