The Makers Of Corona Beer Are Spending Billions To Get Into The Weed Industry
Grupo Modelo — the company that once owned Corona — has come a long way since they first began to brew beer in 1922. Its Mexican founders sold the rights to Corona to Anheuser-Busch InBev in 2008 in a $20.1 billion deal, and now the Corona is expanding even further.
Corona’s parent company — Constellation Brands — is spending $3.8 billion and investing it in a Canadian weed producer named Canopy Growth.
— Dreamspore (@TheDreamspore) August 22, 2018
According to Bloomberg, it’s the largest investment into a weed producer ever. And while some may think it’s a weird idea for a beer brand to be associated with weed, some say this merger is only a sign of good things to come for both industries.
“I think a lot of people are quick to knee jerk this as bad,” Cannabis Now Magazine CEO and publisher Eugenio Garcia told Forbes. “But it is giving a cannabis company access to hundreds of millions [or even billions] of dollars in working capital from which they can make light years faster expressions than any other competitors.”
As more states make weed legal, beer companies are investing in its producers in order to be able to include weed as an ingredient in beer.
— Best Western Plus Pitt Meadows Inn & Suites (@BestWestPlusPM) August 22, 2018
CNBC reports that some beers already have weed as ingredient, including Heineken and Molson Coors whom already sell “cannabis-infused drinks.”
“Heineken’s Lagunitas brand has started selling nonalcoholic sparkling water featuring THC, the active component of marijuana. And Molson Coors has formed a joint venture with Hydropothecary, a weed producer, to make cannabis-infused beverages,” CNBC reports.
But just because this billion dollar deal speaks volumes of the growth of the weed industry doesn’t mean that smaller companies won’t be doing the same.
The company that owns Corona and Modelo invested $4 billion for weed-infused beer. This has got to be the greatest investment of all time.
— Shooter Mcgavin (@AustinRBorba) August 17, 2018
“You’re going to see more of this smaller business model,” Garcia told Forbes. “Much like in the agricultural, farm to table movement around the U.S people will start producing cannabis legally for their immediate geographic locations. You go to any city in the U.S. and you’re going to find a microbrewer that is only putting out enough quantity to support a couple thousand people in their neighborhood. People love that. And that’s going to be very similar, I believe, with cannabis.”
Here’s what people on social media are saying about the beer/weed partnership.
Corona taste kinda like weed with lemon or salt….????
— LeMichael Bryant (@HanSoloNoHoes) August 18, 2018
So maybe we won’t notice the difference in taste?
Maybe weed will improve the flavor of Corona?
Corona beer has invested $4 billion in a cannabis company. The product is pretty much like weed but it's mostly just water.
— Charles Lake (@mesealake) August 16, 2018
Corona isn’t the best beer out there, but does it really taste like water?
This guy already has a slogan for the new product.
“Just when you thought our beer couldn’t get any more skunky…” should be Corona’s new slogan for their weed infused beer.
— Jon (@FonJindlay) August 23, 2018
Not sure if the word “skunky” is gonna sell this drink.
Maybe Bud should have invested in weed….
— Justin Rupple (@TheRupple) August 16, 2018
What a waste of an opportunity. If you’re reading this Bud owners, it’s not too late.