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Constellation Brands Makes $191 Million Investment into Marijuana

SARASOTA, FL - October 30, 2017 Constellation Brands (STZ) is shrugging off the stigma surrounding marijuana and further diversifying its buzz. The New York-based company, which makes and markets a variety of beer, wine and spirits products, today confirmed plans to become the first major alcohol manufacturer to formally expand into the marijuana business via the purchase of a 9.9 percent stake in Canada’s Canopy Growth Corporation (WEED). The $191 million investment into Canopy — the world’s largest publicly traded cannabis company, which is listed on the Toronto Stock Exchange and has a market cap of more than $1.55 billion – is aimed at developing and marketing cannabis-infused beverages that do not contain alcohol.

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