A somewhat unlikely pair – a beverage alcohol company and a cannabis firm – finalized their partnership on Nov. 2, 2017.

Victor, N.Y.-based Constellation Brands had announced on Oct. 30 that it had acquired a minority stake in Ontario-based Canopy Growth.

According to a statement, Constellation invested $245 million in exchange for 9.9 per cent equity in Canopy Growth. “As a result, [Canopy Growth] has issued 18,876,901 common shares in the company to an affiliate of Constellation.”

Canopy Growth is a leading provider of medicinal cannabis products, while Constellation is an international producer and marketer of beer, wine and spirits.

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FoodInCanada.com via 420Intel.com

 

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