Wednesday, August 15, 2018

pot buffers beer's bottom line

(Reuters) - Corona beer maker Constellation Brands (STZ.N) will invest a further $4 billion in Canada’s top cannabis producer Canopy Growth (WEED.TO), doubling down on one of a growing number of bets by the alcohol industry in legal pot....
Canada, where 4.4 million people reported using the drug in the first half of the year, will fully legalize the recreational use of cannabis in October.
Constellation, Molson Coors and Anheuser-Busch are all using the move by the United States’ northern neighbor to hedge their bets for the future at a time when beer sales, roughly 60 percent of Constellation’s business, are stagnating, particularly with younger Americans.

1 comment:

  1. Corporate growers get an okey doke while small growers still go to jail.