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Booze company buys into pot company

Booze company buys into pot company

Postby maryjane48 » Oct 30th, 2017, 5:47 pm

major alcohol conglomerate has agreed to buy almost 10 per cent of Canada`s biggest marijuana company for $245 million Cdn.

New York-based Constellation Brands will buy up to 18.9 million shares in Canopy Growth Corporation, the Tweed, Ont.-based company that has grown to quickly become Canada`s largest marijuana company.
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Re: Booze company buys into pot company

Postby gman313 » Oct 31st, 2017, 6:53 am

maryjane48 wrote:major alcohol conglomerate has agreed to buy almost 10 per cent of Canada`s biggest marijuana company for $245 million Cdn.

New York-based Constellation Brands will buy up to 18.9 million shares in Canopy Growth Corporation, the Tweed, Ont.-based company that has grown to quickly become Canada`s largest marijuana company.


i'm too lazy to read the story. The Canadian Constellation Brands was sold to the Ontario Teachers pension fund and is now separate from the American entity. Is it the Canadian Constellation or American Constellation that is buying into Canopy?

They really do go well together, nothing quite like a nice dinner with a glass of Merlot and a you know what else.
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Re: Booze company buys into pot company

Postby Fancy » Oct 31st, 2017, 7:13 am

Specifically said "New York"

http://www.cbc.ca/news/business/canopy- ... -1.4378116

As part of the deal, Constellation will provide marketing and brand development support to Canopy. The two companies will work together to produce marijuana-based drinks — a market that some estimates have pegged at $10 billion a year, should the products become legal in the United States.
...Constellation owns distribution rights to more than 100 brand names of alcoholic products, including Mondavi, Ruffino and Corona.


Next year could be interesting.

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