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Canopy Growth Corporation’s plans to develop cannabis-based drinks got a huge boost Monday with the announcement of a $245 million investment by the American company that distributes Corona beer.
The giant U.S. drink company Constellation Brands has agreed to buy a 9.9 per cent stake in the Smiths Falls-based Canopy Growth, it was announced Monday. Canopy, the company that began three years ago in an old chocolate factory in Smiths falls, is now the world’s largest publicly-traded medical marijuana company.
Canopy and Constellation will collaborate to develop and market cannabis-based drinks, said a release from Canopy.
Constellation will also provide “broad support in the areas of consumer analytics, market trending, marketing and brand development,” said the release.
Canopy is ramping up its production to meet demand for marijuana in Canada when recreational pot is legal, expected next summer. Only dried weed and cannabis oil will be on sale initially. But the federal government has promised to regulate “edible” cannabis products later, probably within about a year.
There will be a big market for cannabis drinks, Canopy’s CEO Bruce Linton has told this newspaper in past interviews. Cannabis infused drinks are popular in U.S. states that have legalized marijuana and are also sold in illegal pot shops that have sprung up in Canada.
The deal between Canopy and Constellation Brands is a major development in the global cannabis industry, said analyst Aaron Saalz, reacting to the deal on Twitter. The deal “validates” the cannabis industry and helps consolidate Canada’s place within it, he wrote.
I want to avoid hyperbole, and details to come, but this is one the most important (biz) deals ever in the industry thus far #validation
https://t.co/lrrIMHzfYq
— Aaron Salz (@StoicAdvisory) October 29, 2017
Constellation said its investment in Canopy is worth about $245 million. The two companies will exchange “knowledge and expertise,” said its news release.
Constellation has no plans to sell cannabis products in the U.S. until marijuana is legalized federally there. However, the company wants to “stay ahead of evolving consumer trends and market dynamics,” said the release.
Constellation Brands produces and markets beer, wine and spirits in the U.S., Canada, Mexico, New Zealand and Italy, including Corona beer, Clos du Bois and Ruffino wine, SVEDKA vodka and Casa Noble Tequila. It’s the No. 3 beer company in the U.S., according to the company website.
Canopy, which has a market capitalization of more than $2 billion, is also expanding internationally, with cannabis business interests in Germany, Chile, Australia, Brazil, Spain and Jamaica.
Alan Brochstein, a cannabis analyst and investor, tweeted that “big alcohol” buying into a cannabis company is “the biggest story of the year for the cannabis industry.”
The biggest story of the year for the #cannabis industry – Big Alcohol Buys in Big https://t.co/NPB764gqFc $WEED.TO $STZ $TWMJF
— Alan Brochstein, CFA (@Invest420) October 30, 2017
Statement from Canopy CEO Bruce Linton:
“We are thrilled to have the backing of such a well-established and respected organization such as Constellation Brands. We look forward to working with the Constellation Brands team to access their deep knowledge and experience in growing brands as we continue to expand our business.”
Statement from Constellation Brands President and Chief Executive Officer Rob Sands:
“Canopy Growth has a seasoned leadership team that understands the legal, regulatory and economic landscape for an emerging market that is predicted to become a significant consumer category in the future. Our company’s success is the result of our focus on identifying early stage consumer trends, and this is another step in that direction.”
jmiller@postmedia.com
twitter.com/JacquieAMiller
查看原文...
The giant U.S. drink company Constellation Brands has agreed to buy a 9.9 per cent stake in the Smiths Falls-based Canopy Growth, it was announced Monday. Canopy, the company that began three years ago in an old chocolate factory in Smiths falls, is now the world’s largest publicly-traded medical marijuana company.
Canopy and Constellation will collaborate to develop and market cannabis-based drinks, said a release from Canopy.
Constellation will also provide “broad support in the areas of consumer analytics, market trending, marketing and brand development,” said the release.
Canopy is ramping up its production to meet demand for marijuana in Canada when recreational pot is legal, expected next summer. Only dried weed and cannabis oil will be on sale initially. But the federal government has promised to regulate “edible” cannabis products later, probably within about a year.
There will be a big market for cannabis drinks, Canopy’s CEO Bruce Linton has told this newspaper in past interviews. Cannabis infused drinks are popular in U.S. states that have legalized marijuana and are also sold in illegal pot shops that have sprung up in Canada.
The deal between Canopy and Constellation Brands is a major development in the global cannabis industry, said analyst Aaron Saalz, reacting to the deal on Twitter. The deal “validates” the cannabis industry and helps consolidate Canada’s place within it, he wrote.
I want to avoid hyperbole, and details to come, but this is one the most important (biz) deals ever in the industry thus far #validation
— Aaron Salz (@StoicAdvisory) October 29, 2017
Constellation said its investment in Canopy is worth about $245 million. The two companies will exchange “knowledge and expertise,” said its news release.
Constellation has no plans to sell cannabis products in the U.S. until marijuana is legalized federally there. However, the company wants to “stay ahead of evolving consumer trends and market dynamics,” said the release.
Constellation Brands produces and markets beer, wine and spirits in the U.S., Canada, Mexico, New Zealand and Italy, including Corona beer, Clos du Bois and Ruffino wine, SVEDKA vodka and Casa Noble Tequila. It’s the No. 3 beer company in the U.S., according to the company website.
Canopy, which has a market capitalization of more than $2 billion, is also expanding internationally, with cannabis business interests in Germany, Chile, Australia, Brazil, Spain and Jamaica.
Alan Brochstein, a cannabis analyst and investor, tweeted that “big alcohol” buying into a cannabis company is “the biggest story of the year for the cannabis industry.”
The biggest story of the year for the #cannabis industry – Big Alcohol Buys in Big https://t.co/NPB764gqFc $WEED.TO $STZ $TWMJF
— Alan Brochstein, CFA (@Invest420) October 30, 2017
Statement from Canopy CEO Bruce Linton:
“We are thrilled to have the backing of such a well-established and respected organization such as Constellation Brands. We look forward to working with the Constellation Brands team to access their deep knowledge and experience in growing brands as we continue to expand our business.”
Statement from Constellation Brands President and Chief Executive Officer Rob Sands:
“Canopy Growth has a seasoned leadership team that understands the legal, regulatory and economic landscape for an emerging market that is predicted to become a significant consumer category in the future. Our company’s success is the result of our focus on identifying early stage consumer trends, and this is another step in that direction.”
jmiller@postmedia.com
twitter.com/JacquieAMiller
查看原文...
