The maker of Cornona beer has sunk another $4 billion into ASX-listed AusCann’s major shareholder.

Global beverages seller Constellation’s investment into Canopy Growth, the world’s biggest cannabis company, was described as “rocket fuel” for the business by Canopy chief Bruce Linton.

It gives Constellation 38 per cent ownership of the company — up from 9.9 per cent — but they paid a 38 per cent premium for the stock.

The investment is the largest to date in the global cannabis sector.

Canopy owns 11.2 per cent of AusCann (ASX:AC8), Australia’s number two pot stock.

Alcohol brands have been closely watching the cannabis industry as legalisation of recreational pot sweeps around the world — because marijuana is seen as a substitute for alcohol.

In Canada, where marijuna has recently been legalised, the drug is expected to be a $US6.5 billion ($8.7 billion) industry by 2020 — more than the $US5.1 billion Canadians spent on alcoholic spirits in 2017 — and it’s approaching wine sales.

It’s not a stake large enough to threaten imminent takeover, but large enough to give it some heft on the register.

Constellation invested $200 million into Canopy last year as part of a contract to make a non-alcoholic cannabis drink.

Now it’s looking to get a stake in Canopy’s other products as well.

Canopy’s kitty is now sitting at $C5 billion ($5.3 billion).

It plans to use the cash to expand overseas into the into the nearly 30 countries looking at legalising medical cannabis “while also rapidly laying the global foundation needed for new recreational cannabis markets.”

The company says the US is a “strategic priority”.

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