Marijuana bet paying off for alcohol giant Constellation Brands

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Weed is paying off for the maker of Modelo and Corona. The alcohol giant Constellation Brands Inc. set off a flurry of financial activity in the burgeoning cannabis industry when it announced in August that it had invested $4 billion in Canadian weed company Canopy Growth Corp. Canopy, the world’s most valuable pot company, surged on Thursday after it announced a deal to buy Acreage Holdings Inc., one of the largest U.S. pot firms. The stock has gained more than 70 percent this year.

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