Constellation Brands, the parent company of Corona beer, Robert Mondavi wine and Svedka vodka announced last Wednesday plans to invest in the marijuana industry.

The proposed investment of 4 billion dollars will be carried out in the company Canopy Growth, Canadian company that produces cannabis and is listed on the stock exchange. The agreement comes into being after Constellation has bought 10 percent of Canopy cthe intention to make non-alcoholic beverages with cannabis infusion and other products, reports The New York Times.

The decline in beer sales in markets such as the North American are some of the reasons that explain this unprecedented and expensive investment in the marijuana industry in the context of the progress of decriminalization and legalization in different parts of the world.

LOOK ALSO – Chilean tourist in Indonesia arrested for carrying five marijuana seeds

In addition, the market research agency Euromonitor predicts that the profit of the legal marijuana industry could reach 20,000 million dollars by 2020, quadruple the profit generated in 2015.

"As a leading company in the field of alcoholic beverages, we expect the benefits of the investment in cannabis, which we see as something that will expand our basic portfolio of beer, wine and spirits," he said. Robert Sands, executive director of Constellation at the North American media.

At this time, brands such as Heineken and Molson Coors have tried to sell cannabis soaked drinks. But there is still uncertainty about the future regulation of cannabis, because the US Department of Justice promised a strong hand against any kind of crime related to marijuana.

LOOK ALSO – "Longarihuana": Carabineros de Iquique seizes hidden marijuana as longanizas

Source link

Leave a Reply