Eating and smoking cannabis is so 2017. Drinking is the future of marijuana consumption, and Canadians probably won’t need to wait too long to get their hands on a weed-infused beverage.
Constellation Brands Inc., a Fortune 500 company that produces and markets alcoholic beverages (e.g. Corona) is investing in Canopy Growth Corp, Canada’s largest licensed marijuana producer, reports the Wall Street Journal.
Buying into a 9.9% stakes Canopy Growth, valued at $245 million, Constellation is making the investment to develop “cannabis-infused beverages.”
Constellation can even increase their stake to 20%, if they so choose.
The exact specifics on what type of marijuana-beverages will be created have yet to be revealed. Beer, and soda were alluded to, but again, not confirmed.
Still, given Constellation’s large portfolio of alcoholic beverages (the company distributes wine, tequila, vodka, beer, and more) it wouldn’t be a stretch to see marijuana spirits produced, too.
Canada is the intended market for Constellation and Canopy Growth’s upcoming line of cannabis-infused drinks.
With legalization less than a year away, Constellation wants a cut of the new market. No marijuana products will be sold in the US, even in states where cannabis is legal.
The deal isn’t set to close until the third quarter of fiscal 2018, so there will be some lag time before we actually see cannabis drinks.
You can expect, however, that both companies will be striving towards being the first on the market with a drinkable form of marijuana. A product could then hit the shelves shortly after marijuana is legalized.
2018 is looking to be an exciting year.