Corona Premier and Corona Familiar – the first major Corona innovations in over 25 years – are already exceeding expectations, says Constellation Brands; while it is also experimenting with premium spiked refresher Corona Refresca in test markets....
Consumption of alcoholic drinks has been largely static in recent years whereas the use of cannabis is growing and will continue to expand, offering a commercial opportunity for the alcohol industry in North America, according to Euromonitor analysts.
Investment will help Constellation ‘stay ahead of evolving consumer trends’
Constellation Brands has acquired Florida-based Funky Buddha Brewery as part of the company’s goal to expand its high-end beer segment. Terms of the deal were not disclosed.
Diageo’s recent announcement of a record $1bn deal to takeover Casamigos, the fastest growing super-premium tequila brand in the US (and co-founded by George Clooney), is just the latest indicator of intensified M&A activity in the liquor segment.
Constellation Brands says it is “too early to know” how US President Donald Trump’s policies – and in particular a 20% tax on imports from Mexico - will affect its business.
Constellation Brands ended its first quarter with net sales of $1.9bn, a 15% year-over-year increase, driven by the company’s acquisitions of premium brands coupled with consumer demand for high-end alcohol products.
Constellation Brands has announced it will acquire The Prisoner Wine Company brands, a portfolio of five super luxury wine brands, while the company emphasizes the continued growth of premiumization and craft.
Constellation Brands made headlines last year when it purchased craft brewer Ballast Point Brewing for $1bn. The focus this year will be on expanding distribution of the craft brews nationwide, while an east coast brewery is also on the cards.
Constellation Brands has recalled Corona Extra 12-packs and 18-packs of 12 ounce clear bottles in the US and Guam as they may contain particles of glass.
