As the economy stabilizes, consumers are trading up for the premium beer offerings available through the imported beers segment, says Edward Hyseh, U.S. research analyst for Euromonitor International, Chicago.
Crown Imports LLC, a Chicago-based division of Constellation Brands, announced that its Corona Light brand will expand on draft in more than 35 U.S. markets, and its Corona Extra brand will make its debut on draft in three test markets.
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.
Corona Extra and Corona Light are offering consumers of legal drinking age a variety of opportunities to enhance their summer experiences through the new “Live it. Share it. Win it.” campaign, it says.
Beer brands Corona Extra and Corona Light teamed up with ESPN commentator and Super Bowl-winning coach Jon Gruden to showcase the Top 30 U.S. football beach destinations in the Find Your Beach for the Game promotion.
Anheuser-Busch InBev (AB InBev), Leuven, Belgium, will acquire the remaining stake in Grupo Modelo, Mexico City, for $20.1 billion. The combined company would lead the global beer industry with roughly 400 million hectoliters of beer volume annually and 2012 estimated revenues of $47 billion, AB InBev noted in a statement. Tangentially, Constellation Brands Inc., Victor, N.Y., which in a joint venture with Grupo Modelo currently owns 50 percent of Crown Imports LLC, Chicago, signed an agreement with AB InBev to purchase the remaining 50 percent interest in Crown for $1.85 billion.
Crown Imports’ portfolio of eight brands captures approximately 42 percent of the volume of the import beer market in the United States, a figure that the Chicago-based company is intent on increasing. In fact, the joint venture between Mexico’s Grupo Modelo, S.A. de C.V. and Constellation Brands Inc., Victor, N.Y., has a goal of becoming the third major U.S. beer company occupying 20 percent per dollar market share.