Victor, N.Y.-based Constellation Brands Inc. reported a successful second quarter of its 2014 fiscal year following the integration of its newly acquired brewery operations. As a result of the Mexico City-based Grupo Modelo U.S. beer business acquisition, the company recorded a $1.6 billion non-cash gain on the re-measurement to fair value of the company’s original 50 percent interest in Crown Imports LLC, Chicago. In addition, the consolidation garnered $763 million of incremental net sales, boosting overall consolidated net sales for the quarter.
Full-quarter net sales for the beer segment were $815 million, which marks a 3 percent increase compared with the prior-year period.