just The Preview - Constellation Brands Q1
Constellation is now a brewer
Constellation Brands will report its first-quarter results on Tuesday (2 July). Here just-drinks takes a look at the group's highs and lows in the three months to the end of May.
- It was green for go this quarter as a US Department of Justice lawsuit blocking Constellation's buyout of Grupo Modelo's share in their Crown Imports JV was overcome. The deal gives the company perpetual rights to Modelo's brands in the US, as well as somewhat unexpectedly seeing it become a brewer with the takeover of Anheuser-Busch InBev's Mexican brewery. The deal was confirmed this month.
- Along the way, Constellation CEO & president Rob Sands promised plans for the Modelo brands, including hints of new products in the pipeline. He also said the Piedras Negras brewery will undergo a radical expansion, leaving Constellation self-sufficent in beer supply.
- Elsewhere, the company announced a tweak to its Svedka Vodka flavour, one that will “deliver smoother, richer, and brighter profiles”.
- There was also the appointment of a new HR chief, with Tom Kane taking over from from Keith Wilson.
For just-drinks' coverage of Constellation's FY results, released in April, click here.
For a full round-up of just-drinks' coverage of Constellation's Q1 results, click here.
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