Is Corona Making Their Mark in the Cannabis Business?

Major alcohol manufacturers are getting into the cannabis industry, which is making a lot of waves right now. One is that this could be another way for alcohol to rebrand and merge with well-known cannabis companies. Constellation Brands (Corona) is looking to find a way into the Canadian cannabis boat. And they have, by agreeing to pay a 10% (the equivalent of $190 Million) stake to Canopy Growth Corporation.

Constellation’s CEO Rob Sands stated his reason for trying out this new venture, “an emerging market that is predicted to become a significant consumer category in the near future.” 

So far the combination drink would be represented as a non-alcoholic, yet cannabis-infused that would only be sold within the Canadian market.

However, the sad news on the United States front is, Constellation Brands has no intention of selling their new drink mixture within the U.S. limits. This, of course, is about how strict the laws are from state to state. The only way Constellation would sell in the U.S. would be if recreational was legal on all levels.

What about Canpony’s CEO? Well, their spokesperson Jordan Sinclair has stated that when Canada finally gives the green light to declare legalization of cannabis as a whole nothing will be off limits. “And in any federally legal market opportunities that emerge around the world.”

Since Canopy is by far the largest medical cannabis producer, the publicly traded company shows no signs of stopping when recreational cannabis will become legal in Canada.

 

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