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Constellation Brands COO Discusses Investing in Canopy Growth

Jim sat down exclusively with Bill Newlands, COO of Constellation Brands, and Bruce Linton, CEO of Canopy Growth.

Everyone's talking about Constellation Brands (STZ) - Get Constellation Brands, Inc. Class A Report these days. It's not surprising given the company's recent $4 billion investment in Canopy Growth (CGC) - Get Canopy Growth Corporation Report .

TheStreet's founder and Action Alerts Portfolio manager Jim Cramer sat down Saturday for an exclusive chat with Bill Newlands, COO (and future CEO) of Constellation Brands, and Bruce Linton, CEO of Canopy Growth. The conversation took place in front of a standing-room-only crowd during TheStreet's Boot Camp for Investors in New York.

Snoop Dogg made a cameo video appearance to promote Canopy Growth. And then Cramer got down to business, asking the questions everyone has been thinking: "Why Cannabis and why Canopy Growth?"

"We were skeptical, too," Newlands said about partnering up with Canopy to create cannabis-infused products. "We looked carefully at all of the players [and decided]: 'If we are going to play, this is the leading player and we should be playing with them.'"

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The executive said Constellation Brands spent almost a year getting to know Linton, his management team and how they were thinking about the market.

"We did a lot [of research] about where the consumer is going, and we said, 'This would be a good offensive play for us to make -- to take a much bigger stake, to create the war chest for [Canopy Growth] to do whatever they needed to do to win the space around the world," Newlands said.

You can watch Cramer's interview with Newlands and Linton above.