October 30, 2017 / 10:44 AM / a year ago

Constellation Brands takes stake in marijuana maker Canopy Growth

Oct 30 (Reuters) - Constellation Brands Inc said on Monday it took a 9.9 percent stake in cannabis maker Canopy Growth Corp for about C$245 million ($191.06 million), becoming the first major beer and spirits company to invest in legal cannabis.

Constellation said it had no plans to sell any cannabis products in the United States or in any other market unless it is legally permitted.

Ontario, Canada-based Canopy said it gave Constellation Brands the option to purchase an additional ownership interest in the future. ($1 = 1.2823 Canadian dollars) (Reporting by Gayathree Ganesan in Bengaluru)

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