Constellation Brands will announce its full-year and fourth-quarter results on Wednesday. Here, just-drinks looks at the wine, beer and spirits producer’s activities in the three months to the end of February:
- At the beginning of January, Constellation confirmed its intention to construct a second brewery in Mexico, as well as to raise the capacity further at its other facility in the country
- On the same day, the company’s CEO defended the US$1bn purchase of craft brewer Ballast Point, saying the price tag was “reasonable” for such a high-growth brand
- Later in January, Constellation acquired a minority stake in US craft whiskey producer Nelson’s Green Brier Distillery, as part of its venture capital function, Constellation Ventures
- In the same month, the company confirmed plans to expand one of its wineries in New Zealand, in order to meet increasing demand for Sauvignon Blanc
- At the end of January, the group announced a raft of job changes as it looked to support long-term growth plans
- In February, the company announced plans to advertise its Casa Noble Tequila alongside Corona Extra beer, as part of a new campaign for the spirit brand
- At the end of the quarter, Constellation unveiled the roll-out of Mexican beer brand Pacifico in cans across the US
Q3 & YTD highlights
- YTD net profits rose 30% to $812m
- Net sales in nine months to end of November increased by 9% by to $5.5bn
- Operating profits were up 18% to $1.4bn
- Q3 net profits rose by 22% to US$271m
- Sales in the third quarter increased by 6% to $1.6bn
- Operating profits jumped by 19% to $447m
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