US: Constellation Brands lines up Crown Imports funds
Constellation is to acquire a Mexican brewery
Constellation Brands has raised US$1.55bn in a debt offering to help pay for its full takeover of Crown Imports.
The company said today (15 May) it has also taken on a new credit agreement that will give access to a further $1.5bn. Constellation agreed in June to buy the remaining half of Crown Imports for $1.85bn, as a result of Anheuser-Busch InBev's deal to buy Modelo.
Constellation will also pay $2.9 billion for the Piedras Negras brewery and perpetual rights for Corona and the Modelo brands in the US, according to a company spokesperson. The group has committed up to $600m to upgrading the Mexican brewery.
Last month, an analyst said the brewery will help Constellation reduce margins and tackle rising costs.
It's always fun for us to write up the opinions of industry observers when they posit that the next wave of consolidation in one sector or another is set to break some time soon....
The world’s second largest wine producer, Constellation Brands transformed its alcoholic drinks operations with the acquisition of Modelo’s US beer business in 2013. This profile considers strategies ...
Global Wine industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value and volume 2008-12, and forecast to 2017). The profile also ...
Frigorífico Modelo SA is engaged in a wide range of activities, including the production of fruit/vegetable juice; however, this is not the company’s main focus. In terms of its fruit/vegetable juice ...
The company faced a period of uncertainty at the end of 2012 regarding its future in the midst of A-B InBev and Constellation Brands’ merger discussions. Eventually, in February 2013, all parties reac...
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