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.
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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 ...
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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