Beer maker Constellation Brands doubled down on its bet on the budding marijuana industry, pumping just under $4bn into a Canadian group that has sought to capitalise on the spreading legalisation of weed. The company said it would buy 104.5m shares of Canopy Growth at C$48.60 apiece, lifting its stake to 38 per cent. The investment, which also includes warrants that could lead to it increasing its stake by a further $3.4bn, follows Constellation’s acquisition of 10 per cent of Canopy last year. The transaction between Constellation and Canopy is the latest in a wave of pot deals, as traditional makers of beer and spirits eye what they believe is the next big market where consumers will get their buzz.