Constellation Brands intends to invest C$5bn ($4bn) in Canopy Growth to increase its stake value.

Constellation Brands is an alcohol beverage company based in the US, while Canopy Growth is a cannabis company based in Canada.

Constellation Brands will acquire a 38% stake in Canopy Growth through the purchase of 104.5 million shares.

Canopy Growth will use the funds for the acquisition of key assets and for pursuing a medical cannabis programme.

Scheduled for completion in October 2018, the transaction will allow Canopy Growth to leverage Constellation’s understanding of consumer trends and shifting preferences.

Lotte Food Pasteur has signed a memorandum of understanding (MoU) with Spring Sheep Milk to launch new milk-based products in South Korea.

“7-Eleven Group has completed the acquisition of a majority stake in Tipple.”

Founded in 1958, Lotte Food is manufacturer of ice cream and oil, while Spring Sheep Milk is a sheep’s milk firm based in New Zealand.

Spring Sheep Milk is a joint venture (JV) formed by Landcorp and SLC Group.

Lotte Food also intends to enter the Chinese market in 2020 by launching infant formula and early life nutrition products.

Sinalco, Taiyo and Sweethouse have joined forces to develop new and innovative beverage concepts featuring health benefits and low sugar content.

The partners will integrate Sinalco’s experience in beverage production, Taiyo’s functional ingredients and Sweethouse’s sweetening systems.

The companies have started the work on the new beverage concepts, which will be demonstrated at the Innovation in the Non-Alcoholic Beverages Congress event to be held in September 2018.

Coca-Cola Company has entered an agreement to acquire a minority stake in Bodyarmor.

Bodyarmor will utilise the Coca-Cola bottling system to meet growing consumer demand.

The transaction will enable Coca-Cola to increase its ownership stake under certain conditions in the future.

Bodyarmor is a sports drink brand based in the US.

7-Eleven Group has completed the acquisition of a majority stake in Tipple.

Headquartered in the US, 7-Eleven is an international chain of convenience stores, while Tipple is an alcohol delivery start-up based in Australia.

The transaction will enable Tipple to expand its presence by collaborating with additional bottle shops.