A cannabis company just got a $4 Billion Investment - the biggest ever - from a booze company
By Sarah Rense
The cannabis industry just got its biggest investment to date: $4 billion, enough to make the legal weed market a booming global operation. The future of legalization is looking bright indeed, folks.
That huge chunk of money was invested by Constellation Brands, which owns drinks like Corona, Modelo, and Svedka, into Canadian cannabis company Canopy Growth, which boats the largest legal cannabis footprint in the world, BBC reports. It's a marriage of a booze giant to a weed giant.
Last year, Constellation invested $191 million in Canopy Growth to get to work on cannabis-infused drinks. (Cannabis-infused drinks don't have THC, so they don't get you high.) This new $4 billion investment is for even more growth, and specifically into 30 countries where federally approved medical marijuana is on the horizon. The money will also go towards products like edibles, as well as cannabis products used for medical treatment alternatives to anxiety, insomnia, and pain.