Corona owner makes $4 billion bet on cannabis
ABC News 10 -

The maker of Corona is betting that consumers want something more than beer and booze.

Constellation Brands is spending $4 billion to boost its stake in cannabis company Canopy Growth. Constellation also owns a big wine business, SVEDKA vodka and Casa Noble tequila.

It first invested in Canopy Growth last year, when it bought a 10% stake. Wednesday's move upped its holding in Constellation to 38%, and leaves open the option to purchase a majority controlling share of more than 50%.

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