Constellation Brands reported strong performance of its beer portfolio with net sales increasing 7.8% in Q3 2018 as its Mexican import brands have claimed four of the top share gainer positions in the total US beer category.
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 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 sees a bright future in the high-end beer market, and its strategies to embrace the category’s potential include a new 10m hectoliter brewery in Mexicali, more capacity for its Nava brewery, and growth for recently-acquired Ballast...
Cowen and Company analyst Vivien Azer says her company likes Constellation Brands’ ‘outsized’ exposure to imported beer and expects that category to win more share from non-craft domestic brands in 2015.
Constellation Brands CEO Robert Sands says cans offer a huge opportunity to grow sales of beers such as Corona Extra as the firm plans to significantly expand production at its brewery in Nava, Mexico.
Constellation Brands Beer Division has expanded the list of production codes in a voluntary recall of Corona Extra, which was originally issued on August 15 because some bottles may contain small particles of glass.
Rob Sands insists Constellation Brands ‘will stick to its knitting’ as beer rival AB InBev launches Mexican import brand Montejo this year and insists the beer poses no special threat to his firm’s stellar US beer growth.
Constellation Brands expects ‘great things’ after launching Corona Light on tap and is confident it can boost draft sales to 10% of its business while beating craft beers on premise and at retail level.
CONSTELLATION BRANDS SLAMS 'VEXATIOUS' LITIGATION OVER UNTENABLE CLAIMS
Constellation Brands misled a Federal court by arguing that it would not co-ordinate beer prices rises to follow AB InBev after the Grupo Modelo takeover and then doing so, nine US beer drinkers claim.
US and native microbrewers could profit if Mexico’s antitrust regulator rules that controversial exclusivity deals, which benefit local giants Grupo Modelo and Cuauhtemoc Moctezuma, owned by AB InBev and Heineken respectively, are illegal.
AB InBev has agreed a settlement with the US Department of Justice, which sued to world's largest brewer earlier this year on competition grounds, to halt its proposed $20.1bn acquisition of the remaining stake in Grupo Modelo it does not already...
CEO ROBERT SANDS EXCITED AT SECURING MODELO 'CROWN JEWEL'
Constellation Brands plans to double of the capacity of its new Piedras Negras brewery in Mexico to 20m hectolitres within three years, and says its ‘transformational’ deal with AB InBev will make it the No.3 US brewer.
Anheuser-Busch InBev (AB InBev) has agreed to sell a massive Grupo Modelo brewery to Constellation Brands as part of a $2.9bn transaction, to defuse a US legal fight over its takeover of the Mexican brewer.
Despite rumours that AB InBev could eventually follow-up its Grupo Modelo acquisition by attempting to swallow rival SABMiller for $80bn, one analyst told BeverageDaily.com that such a deal raised anti-trust issues, despite the two firms’ ‘complementary...
This week, Diageo heads to the court over new taxing measures in
California, a major US roadway is closed over beer-induced chaos
and InBev expresses its concerns to potential takeover target
In the latest briefs, Heineken steps up its presence in Algeria,
The C&C Group continues to be hit by a weak UK cider market,
and Foster's goes brand mad by extending an exclusive deal to push
Corona Extra in Australia.
A difficult half for beer, spirits and lower-end wine sales was
offset by a good performance from premium wine brands at the
US-based drinks group Constellation Brands, though the UK unit also
showed positive developments.