Report: Constellation To Sell Off Wine Brands, Focus On Cannabis, Beer

One of the world’s largest alcohol producers, Constellation Brands, plans to shed some of its U.S.-based wine portfolio as part of a strategic shift to beer and marijuana products, according to an exclusive report by Reuters.

Constellation increased its ownership in Canadian licensed cannabis producer Canopy Growth in August with an industry-record investment of 5 billion Canadian dollars ($3.8 billion).

Any deal to sell its American wine brands could be worth more than $3 billion ($CA3.9 billion) for Constellation, which is the No. 3 beer maker in the United States, according to Reuters.

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