Investments coming together for Rivers . TerrAscend . Labs Canopy Growth Corp.
Canopy Growth Corp. (NYSE: CGC) (TSX: WEED) is a world-leading diversified cannabis and hemp company
---> with ten licensed cannabis production sites and over 4.3 million square feet of production capacity.
Thanks to a hefty C$5 billion investment from New York-based alcohol beverage giant Constellation Brands (NYSE: STZ and STZ.B),
--> Canopy Growth is already considered one of the most likely cannabis companies to lead the CBD-infused beverage industry.
Constellation Brands has more than 100 alcohol beverage brands in its portfolio, including household names like Corona and Modelo Especial.
But Canopy Growth’s investment relationship with New York isn’t entirely one-sided.
Following the passage of the U.S. Farm Bill,
--> Canopy Growth announced a commitment to invest between US$100 million and US$150 million in New York
--> in order to establish a “Hemp Industrial Park”.
--> According to a recent interview with Canopy Growth CEO Bruce Linton, the company’s N.Y. hemp operation will mirror its 190 million sq. foot (4500 acres) Saskatchewan hemp division.
Via the Financial Post:
“We have been quiet about this, but
--> we’ve been experimenting with hemp-derived CBD out in our hemp facility in Saskatchewan.
--> We’ve developed a processing and extraction technique and we’re going to take that to New York,” Linton told the Financial Post.
With potentially hundreds of millions of square feet of hemp-derived CBD production capacity, Canopy Growth is well-positioned to supply both its U.S. and Canadian CBD-infused endeavours.
The Key To Success With CBD-Infused Beverages: Speed
With tens of billions of dollars spent annually in the global beverage market,
--> the beverage industry is one of the most competitive markets in the world. By that same token, one can expect a significant degree of competition in the growing CBD-infused beverage market.