Source: Fox Business News
“Marlboro cigarette maker Altria on Friday became the latest major company to explore an entry into the legal cannabis market…Altria, which also owns Philip Morris USA, will invest $1.8 billion in Canada-based Cronos Group for a 45 percent stake in the company…Cronos is a leading player in Canada’s cannabis industry, which received full nationwide legalization earlier this year. Demand for legal cannabis and cannabis-infused products is also growing in the U.S., where cannabidiol (CBD) product sales are expected to surpass $1 billion in 2018, according to Hemp Business Journal…Constellations Brands: The parent company of Corona beer acquired a $4 billion stake in Canada-based pot producer Canopy Growth last August, upping its ownership of the company to 38 percent from about 10 percent. Constellation brands said at the time that the deal would “position Canopy Growth as the global leader in cannabis production, branding, intellectual property and retailing.”Molson-Coors Brewing: The Denver-based brewing company said earlier this year that its Canadian unit would partner with the Hydropothecary Corporation ‘to pursue opportunities to develop non-alcoholic, cannabis-infused beverages for the Canadian market following legalization.; Molson Coors Canada owns a 57.5 percent interest in the joint venture. Coca-Cola: While the beverage giant has yet to announce any formal partnership, Bloomberg reported last September that Coca-Cola was in advanced talks on a deal with Aurora Cannabis, another Canada-based firm. “
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