Constellation Brands Taking 9.9% Stake in Canadian Marijuana Company

Dear Client:Yesterday the Wall Street Journal reported that Constellation Brands is taking a 9.9% stake in a Canadian marijuana company, in order to "develop and market" non-alcoholic, cannabis-infused beverages. The WSJ reports the deal, expected to close early next month, to be worth about $191 million.The company, Canopy Growth, is the largest publicly traded cannabis company, with a valuation of more than 2 billion Canadian dollars on the Toronto Stock Exchange.Deal terms include the option for Constellation to increase its