>> The maker of Corona beers on Wednesday raising its bets on the marijuana industry, announcing it will pump another $4 billion into Canada's top cannabis producer, Canopy Growth. Constellation Brands made it's first investment in Canopy last October, when it invested nearly $200 million into the company. But that's peanuts compared to the latest deal, which is by far the biggest investment in the industry with Constellation now owning a 38% stake.
The move showing the growing number of bets the alcohol industry is making on legal pot, with Molson Coors and Anheuser-Busch also eyeing the weed markets. The companies all using Canada's move to fully legalize the use of marijuana, which goes into effect this October, to hedge their bets for the future at a time when beer sales are falling flat.