Indopedia All Things Marijuana
Get ready, green rushers — the alcohol industry is coming.
According the Wall Street Journal, a blockbuster purchase in Canada’s cannabis industry has made global alcohol behemoth Constellation Brands Inc. the largest shareholder in Canopy Growth Corp., the Great White North’s largest publicly traded medical marijuana company.
Constellation, the U.S. distributor of Corona and Modelo beer as well as Svedka vodka, paid $191 million for a 9.9% share in Canopy Growth, a move that industry experts predict will flip a proverbial switch, prompting other beer, wine and spirit bigwigs to try their hand in the burgeoning world of drinkable weed.
“Canopy Growth has a seasoned leadership team that understands the legal, regulatory and economic landscape for an emerging market that is predicted to become a significant consumer category in the future,” said Constellation Brands CEO Rob Sands in a statement. “Our company’s success is the result of our focus on identifying early stage consumer trends, and this is another step in that direction.”
For the first two decades or so of America’s still-new experiment with legal weed, the alcohol industry has mostly…
