Constellation, Heineken, Molson Coors dive into marijuana beverages

Beer
companies large and small have been in hot pursuit of a flurry of
deals in the marijuana industry.

Rawpixel
/ Shutterstock

• Big beer companies are looking to develop marijuana-infused
  beverages as a way to revitalize their businesses.
• Constellation Brands, the third-largest beer company in
  the US, this week invested $4 billion in Canopy
  Growth, a Canadian marijuana cultivator, to develop
  marijuana-infused beverages and other products.
• 
  And Lagunitas, Heineken’s California-based
  brand, recently developed a
  hoppy, THC-infused sparkling
  water. 
  
  And Molson Coors
  recently entered a
  joint venture to produce marijuana-infused beer for the
  Canadian market, among
  other deals.
• Investors are excited about the prospect of creating a
  whole new class of marijuana consumers, though some questions
  still remain.

Big beer companies want in on the exploding
legal-marijuana market.

Beer and liquor giants like Molson Coors, Heineken, and
Constellation Brands — the company behind Corona — have pursued a
flurry of deals to develop marijuana-infused drinks that they
hope will give them a slice of the rapidly expanding pie.

Constellation, the third-largest beer company in the US, this
week paid $4 billion for a 38% stake of
Canopy Growth, the largest publicly traded marijuana grower,
to develop marijuana-infused beverages and other products. It’s
the largest corporate investment in a marijuana cultivator to
date. 

A handful of smaller firms and startups are seeking to build out
products lines as well, either by developing their own brews or
through strategic acquisitions.

“It’s the next big evolution of the cannabis market,” Keith Dolo,
the CEO of consumer cannabis company Sproutly, said in a recent
interview. …

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