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 BEER BUSINESS HAS ‘EXCEPTIONAL MOMENTUM’
Constellation Brands announced yesterday that its Mexican beer brand Modelo Especial is poised to overtake Heineken as the No.2 selling imported beer in the US.
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 says it is introducing a Bloody Mary-style beer in the US as it seeks to exploit a ‘pretty large category’ currently dominated by one player.
Constellation Brands claims that Mexican brew Modelo Especial is now the ‘hottest’ beer brand in the US, and CEO Robert Sands says he expects it to become the next Corona.