Constellation Brands raises stake in cannabis company
Constellation Brands Inc. has increased its ownership stake in an Canadian medicinal cannabis provider from 10 percent to 38 percent.
The Victor, New York company — which owns such local wineries as Clos du Bois in Geyserville, Simi Winery in Healdsburg and Robert Mondavi Winery in Napa — on Tuesday made the $4 billion investment into Canopy Growth Corp.
Constellation Brands CEO Rob Sands has said his company would not be complacent in the emerging market, though regulatory hurdles have prohibited wine companies and breweries from entering the market as they could lose their federal license to sell alcohol.
Canada represents an easier market to penetrate as recreational use will become legal on Oct. 17.
“Over the past year, we’ve come to better understand the cannabis market, the tremendous growth opportunity it presents, and Canopy’s market-leading capabilities in this space. We look forward to supporting Canopy as they extend their recognized global leadership position in the medical and recreational cannabis space,” Sands said in a statement.
New tasting room opens in Healdsburg
Lioco Wine Co. will open its new tasting room in Healdsburg just off the city square on Monday.
The 1,300-square-foot space is located at 125 Matheson St., formerly occupied by Topel Winery. The building has been completely renovated with a contemporary California-coastal design by Paige Pierce Design. The venue offers multiple seating options, including a 10 person L-shaped bar; a low-slung banquet room with seating for 10 abutting windows that open up to the street; two high-rounds with a “cat-bird” view of the space; and a private room with its own vintage turntable and collection of vinyl records.
TV ad campaign features local winemakers
The Portuguese Cork Association has started a local TV advertising campaign promoting the virtues of cork capsules with local winemakers.
The ads will run for the next month in Sonoma, Napa and Santa Rosa. The channels include CNN, MSNBC, Fox News, the Food Network and HGTV.
The winemakers include Corey Beck of Francis Ford Coppola Winery; Maggie Kruse of Jordan Winery; Katie Madigan of St. Francis Winery & Vineyards; Richie Allen of Rombauer Vineyards; and Tim Bell of Dry Creek Vineyard.
Compiled by Bill Swindell. Submit items to email@example.com.