Constellation Brands the maker of Corona beer who operates a brewery and glass bottle production plant in Nava, Coahuila, Mexico, near the U.S.-Mexico border recently increased its investment in cannabis with a record $ 4 billion investment in Canopy Growth a company based in Canada.
The company has made the move and believes that cannabis could be a $ 200 billion business/ investment all across the world within the next 15 years.
Last year Constellation Brands was among the first big Alcoholic Beverages company to invest money into the marijuana industry.
The company sparked up a deal with Canopy Growth Corp to produce a non-alcoholic cannabis-based beverage.
It recently increased its investment portfolio in cannabis with a great investment in Canopy. This investment spurred a buying frenzy in marijuana stocks.
Constellation Brands Chief Operating Officer(COO) William Newlands stated that cannabis is not going to be limited just to Canada but believes “cannabis is going to be a big business worldwide.”
The beer company is looking into truly expanding into the market sooner or later. “This will be undoubtedly a market that develops in the United States, it’s already done so on a state-by-state basis here,” Newlands has stated.
“It’s developing around the world. This is going to be a big business,” added Newlands.
The maker of Corona beer increased its stake in Canopy Growth to 38% an increase of 29 % from 2017 when they held only a 9.9% stake.