Constellation Brands (NYSE: STZ), most known for their popular beer brand Corona and Ballast Point, has ambitious plans to launch a cannabis infused beverage company around the globe. Through their already established distribution lines, Constellation will only focus on country’s that have legalized cannabis, in order to carve out their niche of a future multi-billion dollar industry.
The international beer manufacturer recently made a $200M investment into Canadian public cannabis company Canopy Growth Corp. (TSX: WEED) for 10% of the company. Canopy is one of the largest cannabis cultivators in Canada and can supply Constellation with a steady supply of cannabis to help launch and maintain the new brand.
Constellation Brands is preparing to launch the new product line once legislation changes allow them to operate business legally. Bill Newlands, CEO of Constellation Brands said, “Our goal with this organization is to work collaboratively to both understand the cannabis business but also develop unique cannabis-based beverages that will be available around the world as legalities prove
those to be an option.”