Constellation Brands will announce its nine-month and third-quarter results on Thursday. Here, just-drinks looks at the wine, beer and spirits producer’s activities in the three months to the end of November:
- At the start of September, glass bottle maker Owens-Illinois bought Vitro, a major glass supplier to Constellation, for US$2.15bn. The deal increases Constellation’s links with OI, which already makes glass packaging independently for the company, as well as through a JV.
- Also in September, Constellation said there had been a big jump in canned sales of Corona Extra in the US over the past year after, it had pin-pointed the format as “the latest craze”.
- In October, the company announced two new products. Apple cider whisky Serpent’s Bite is designed to capitalise on trends for flavoured whiskey, hard cider and the shot occasion. Meanwhile, Belgian-style wheat beer Tocayo Hominy White Ale is meant to be inspired by the culture and flavours of Mexico.
- In the same month, CEO Rob Sands hinted at plans for a second Mexican brewery – likely to be a greenfield site in the west of the country. The brewery could be announced in the third-quarter earnings call this week.
- In November, the group moved into craft beer for the first time with the purchase of San Diego craft brewer Ballast Point Brewing & Spirits for US$1bn. Analysts were surprised at the high price tag but said Constellation could well be getting its money’s worth.
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