Constellation Brands completes acquisition of Grupo Modelo's US beer business
Acquisition nearly doubles company's sales
Constellation Brands Inc., Victor, N.Y., announced that it completed its acquisition of Grupo Modelo's U.S. beer business from Anheuser-Busch InBev, Leuven, Belgium, for approximately $4.75 billion. The transaction includes full ownership of Crown Imports LLC, which provides Constellation with complete, independent control of all aspects of the U.S. commercial business; a state-of-the-art brewery in Nava (Piedras Negras), Mexico; an exclusive perpetual brand license in the United States to import, market and sell Corona and the Modelo brands Crown currently sells; and the freedom to develop brand extensions and innovations for the U.S. market.
"Today begins a new chapter in Constellation's history," said Rob Sands, president and chief executive officer of Constellation Brands, in a statement. "We are now the proud owners of six of the Top 20 imported beer brands in the U.S. and a coveted portfolio of premium brands in the growing U.S. imported beer category. We are committed to successfully running and investing in the world-class Mexican brewery and are very excited about the potential for developing new products and line extensions within the portfolio of brands in the U.S."