Constellation Breaks Pot Taboo, Opens Door for Mainstream Brands$this->bbcode_second_pass_quote('', '[')img]https://i3.aroq.com/3/constellation_0.jpg[/img]
Beer and weed could be a good mix for companies that sell both.
The decision by Corona beer seller Constellation Brands Inc. to buy a minority stake in a Canadian pot company marked the first major foray of an alcohol brand into the nascent weed industry. With the taboo now broken, other purveyors of beer, wine and spirits may look for similar opportunities in the expanding world of legal pot.
Brewers and distillers such as Molson Coors Brewing Co., Anheuser-Busch InBev NV, Diageo Plc and Pernod Ricard SA may already be examining the marijuana space, according to beverage-industry analysts. Constellation’s move only intensifies the competitive pressure.
“There’s a threat on the horizon that if they don’t get into the game, they’re going to be left behind,” said Jason Zandberg, an analyst at PI Financial in Vancouver.
