American spirits company Constellation Brands has immensely increased its investment in a Canadian cannabis company, betting that recreational cannabis will be a huge market when it becomes fully legal in Canada in two months.
Constellation, the $8 billion company behind Corona and Modelo beers and Svedka vodka, will spend US$3.88 billion to increase its ownership of Canopy Growth Corp. to 38 percent and will nominate four directors to Canopy's seven-member board, it was announced today.
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