News

Constellation Brands is taking a second hit of Canopy Growth Corporation (TSX: WEED). Less than a year after spending $191 million to acquire a 9.9 percent stake in the Canadian cannabis company, the Corona and Modelo maker today announced it would invest approximately $4 billion to acquire 104.5 million shares of Canopy, raising its stake to about 38 percent.

Anheuser-Busch announced several personnel moves on Tuesday, including changes to its U.S. marketing and North American sales teams. In separate notes to the company’s wholesalers, chief marketing officer Marcel Marcondes and chief sales officer Brendan Whitworth discussed the changes, which are part of North American CEO Michel Doukeris’ commercial reorganization plan.

The owners of two Texas craft beer companies are encouraging the state’s wholesalers to work with them on modernizing alcoholic beverage laws that bar manufacturing breweries from selling beer to go. During a Brew Talks panel discussion, held last week in conjunction with the National Beer Wholesalers Association Next Generation conference in Austin, Texas, Hops & Grain founder Josh Hare, who also chairs the Texas Craft Brewers Guild, argued that the “marriage” between suppliers and wholesalers should work more like a partnership and less like “a parent-child relationship.”

Constellation Brands is continuing to invest behind an own-premise retail strategy for its Ballast Point brand, yesterday confirming plans to open another California brewpub in 2019. The new Ballast Point location – its eighth in California and the tenth in the U.S. — will be located in San Francisco’s Mission Bay neighborhood, where the NBA’s Golden State Warriors are building a new stadium.

Eight months after ceasing operations, the brewing equipment inside New York’s Olde Saratoga Brewing Co. is slated to be sold at an August 28 auction. Meanwhile, Olde Saratoga’s sister brewery, Ukiah, California-based Mendocino Brewing Co., which also closed its doors in January, has reportedly found a new owner.