A giant deal in the global cannabis market: Constellation Brands, the maker of the Corona beer, is increasing its stake in the world's largest cannabis company to 38, with a majority on the board. Knopy will receive approximately 4 billion for the acquisition, the most expensive in the history of the industry.
Constellation Brands, with successful brands such as corona, vodka, Acquired Even before 8 months 9.9% of the world's largest cannabis company, Canopy, for 191 million.
Yesterday, the giant alcohol conglomerate took over 38% of the company's ownership after an investment agreement of 3.8 billion, making it the largest cannabis transaction in the history of the industry.
The largest cannabis deal in history
As part of the deal, a majority of 4 representatives of Constellation Brands will be appointed to the Knopi board of directors with a total of 7 members, headed by Knopf CEO Bruce Linton.
"It's like rocket fuel for us, we're going to be much more global now," said Linton, saying he believed cannabis would be legal in the US as "closer than everyone expects."
As a result of the investment, Canopy shares in the Canadian stock exchange surged by 30 to its highest value ever, compared to a decrease of 6 in the value of Constellation shares.
In addition to the new legal cannabis market to be opened in Canada in about eight weeks (17.10), Knopi intends to use its new expanded budget to invest in setting up activities in 30, where medical cannabis branches are opening.
"Over the past year, we have a better understanding of the cannabis market, the tremendous opportunity for growth and Canopy's capabilities in leading this sector," said Rob Sands, CEO of Constellation Brands.
Sandes added that the major alcohol company will work to expand Canopy's operations in both the medical cannabis market and the future legalizing markets, and will use its production, sales and marketing capabilities as a member of the prestigious Fortune 500 list.
The world's largest cannabis company
Canopy, which is considered the largest cannabis company in the world, has managed to produce activities in 11 in a relatively short time, including some explorations in Israel and more recently in one of the richest kibbutzim in the country.
Canopy is the owner of the Canadian medical cannabis companies Tweed and Spectra, as well as the exclusive franchise in Canada of the Dutch medical cannabis company in Drucken. In addition, the company is in partnership with Snoop Dogg's cannabis Lips, with the cannabis seed company and the Australian medical cannabis company Ozcan. At the end of the 2017 She swallowed Knopi also has the famous Dutch cannabis seed company Greenhouse.
Constellation Brands, which manufactures the successful beer brand Corona, has started its cannabis activity at the end of 2016 When she began to examine Possibility of producing the capital of Cannabis. Last week Ahead of her The Heineken Company published the first cannabis capital in the world.