The Los Angeles Times reports that Constellation Brands, which owns beer brands such as Corona and Ballast Point and wine brand Robert Mondavi, will spend $3.8 billion to increase its stake in Canadian marijuana grower Canopy Growth Corp. from 10 percent to 38 percent.
The story says that Constellation is “betting legalization will gain traction around the world and especially in the United States … The record investment reflects a world in which pot has become ubiquitous as its counterculture stigma fades. In the United States, a patchwork of state laws and relaxed enforcement under the Obama administration have made its pungent odor common from Colorado ski towns to the sidewalks of New York, Seattle and Los Angeles.”
The Times notes that Constellation is not alone: “Molson Coors Brewing Co. has started a joint venture with Hydropothecary Corp. to develop nonalcoholic, pot-infused beverages for the Canadian market. Heineken’s Lagunitas craft-brewing label has launched a brand specializing in nonalcoholic drinks infused with THC, marijuana’s active ingredient.”
The story says that Constellation is “betting legalization will gain traction around the world and especially in the United States … The record investment reflects a world in which pot has become ubiquitous as its counterculture stigma fades. In the United States, a patchwork of state laws and relaxed enforcement under the Obama administration have made its pungent odor common from Colorado ski towns to the sidewalks of New York, Seattle and Los Angeles.”
The Times notes that Constellation is not alone: “Molson Coors Brewing Co. has started a joint venture with Hydropothecary Corp. to develop nonalcoholic, pot-infused beverages for the Canadian market. Heineken’s Lagunitas craft-brewing label has launched a brand specializing in nonalcoholic drinks infused with THC, marijuana’s active ingredient.”
- KC's View:
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I think that it won’t be long before marijuana is going to be commonplace and accepted pretty much nationally, seen by most people as the equivalent of alcohol.
I noticed this recently in Portland, where I bought a CBD-infused beverage that was on tap at Green Zebra. I was careful not to drink it until I was done with MNB, but when I did, I slept like a baby. But I’m not sure what that means, because I almost always sleep like a baby. It was good, though.
