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Canopy Growth Corp.’s chief executive officer expects one “Google-like company” to dominate the cannabis industry. His own firm may well be on its way.

Canopy’s transformative deal with Constellation Brands Inc., the maker of Corona beer, has given it legitimacy, clout and a cash hoard that has widened the gap with its competitors. The deal has boosted Canopy’s stock 56 per cent since Constellation’s $5 billion (US$3.8 billion) investment for a 38 per cent stake was announced last week. That brings its market value to $11 billion, in the same league as plane maker Bombardier Inc. and retailer Canadian Tire Corp. and about $3.7 billion more than its nearest competitor Aurora Cannabis Inc.