Our investment in Canopy Growth, a world-leading diversified cannabis company, supports Canopy Growth’s first-mover advantage as it builds a pathway to dominate the emerging cannabis category.
We believe this relationship will be a game changer for our company and our category as consumer attitudes about cannabis continue to evolve. Canopy Growth announced an agreement with Acreage Holdings, a leading multi-state cannabis operator in the U.S. If the transaction is consummated, Canopy Growth will be poised and ready to enter the U.S. market with new products in a variety of formats when it is federally permissible.
In the U.S., Canopy Growth has already taken the first steps to responsible production in New York. Key state and federal government officials have granted Canopy Growth permission to establish a Hemp Industrial Park. The Hemp Industrial Park will include large-scale production capabilities focused on hemp extraction and product manufacturing within the U.S.
Constellation Brands’ beverage development capabilities, brand building expertise, financial discipline and insights in mergers and acquisitions, coupled with our knowledge of how to successfully navigate the highly regulated U.S. beverage alcohol market, helps position Canopy Growth to lead the emerging market.
“It’s probably not a stretch to say that legalization of global cannabis markets could be the most exciting growth opportunity that we will see in the CPG industry this century… Constellation isn’t afraid to lead the evolution of our industry… It’s incredibly energizing to go to work each day knowing that we as a company are helping to create the brands consumers will love and consume for years to come.”