The world’s fifth-largest alcohol company plans to get into the marijuana business.
Bloomberg reports that the parent company of Guinness is meeting with three Canadian cannabis companies regarding a deal.
Go here to maximize your profits from this upcoming announcement. It’s another sign of the marijuana buyout boom.
Diageo (NYSE: DEO) is a huge alcohol company. Last year’s sales totaled $12.1 billion.
With a market value of $87.4 billion, Diageo is twice the size of Constellation Brands (NYSE: STZ).
The report suggests that potential buyout targets could include one of Canada’s top four producers:
- Aphria (OTC: APHQF)
- Aurora Cannabis (OTC: ACBFF)
- Cronos (NASDAQ: CRON)
- Tilray (NASDAQ: TLRY)
This rumor follows Constellation’s $4 billion investment in Canopy Growth (NYSE: CGC).
A Diageo representative declined to comment on this Bloomberg story. Yet the company says that its “monitoring the space closely.”
There’s widespread speculation that Aphria could be the frontrunner. That’s because the company recently hired an executive who previously served as the CFO of Diageo North America and the President of Diageo Canada.
I’m expecting this could be similar to the Constellation-Canopy deal. It could include a large equity investment and a joint venture partnership.
Once completed, it could be the latest deal in the Marijuana Buyout Boom.
Pot stock buyouts have sparked quick profits for early investors.
Last year, Canopy Growth shares jumped 120% in just 24 days – after news of an initial investment from Constellation.
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