Constellation Brands claims it is outperforming the US wine and spirits industry via Symphony IRI channels, due to promotional investments gaining ground at retail level.
Releasing its third quarter (Q3) results for the fiscal year 2013 yesterday, the world’s largest premium wine firm noted net sales of $767m (+9% on Q3 2012) and net income of $110m (+4%), both on a reported basis.
Rob Sands, CEO and president, said: “We continue to experience strong marketplace momentum across our beer wine and spirits portfolio, and we were well-positioned at retail during the key holiday selling season.
“We are especially excited about the prospect of achieving the next significant milestone in the history of our company by obtaining 100% ownership of Crown Imports, which will solidify Constellation’s position as the largest US multi-category supplier across the beverage alcohol segment,” he added.
Sands said that Constellation expected the $1.85bn transaction – which involves the purchase of Grupo Modelo’s 50% stake in Crown following the former’s $20bn takeover by AB InBev – to close in Q1 2013.
Constellation’s brand portfolio spans wine, beer and spirits. Notable brands include Corona Extra, Robert Mondavi, Clos du Bois, Inniskillin and SVEDKA vodka.