US: Constellation head: don't buy - build brands
The head of Constellation Brands has said that the company plans to focus on building a premium spirits brand rather than buying one.
Speaking in New York yesterday (10 May), Constellation CEO Richard Sands noted that acquisition prices for existing premium brands have been high.
"Normally we say if you cannot beat them, then buy them; but in this case we are saying if you cannot buy them, then build them," Sands told attendees of the Goldman Sachs Consumer Products Symposium.
"It is a better idea to buy evolving brands or build premium brands."
Constellation Brands' CEO has described the drinks industry landscape as "a pretty target-rich environment"....
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Fifteen beverage alcohol producers in the US have paid a combined US$2.3m to settle a probe into rebates and gifts given to retailers to market their products in New York....
UK spirits group Halewood International has named former Constellation Brands executive Graham Oak as marketing director....
Constellation Wines US is set to sell one of its wineries in the country. The Constellation Brands subsidiary confirmed yesterday (26 October) that it has secured an agreement to sell Zillah winery in...
Jess Jackson and Barbara Banke have set up a wine company to target a new generation of wine drinkers....
Nearly 30,000 bottles of Strathmore mineral water have been withdrawn from sale in the UK after some were found to contain mould....
Constellation Brands CFO Tom Summer has said that he plans to retire from the US drinks giant next May....
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