Constellation Brands is eyeing possible acquisitions worth in the region of US$500m and US$2bn, according to press reports.

Speaking to the UK's Financial Times, the company's CEO and chairman, Richard Sands, said that, following its decision to pull out of the race to acquire Allied Domecq, Constellation was now considering other deals in the spirits sector.

These acquisitions could include either individual brands in the early stages of development or spirits companies, the newspaper reported.

Sands added that the family-controlled structures of many remaining spirits companies would not be an insurmountable obstacle.

"Family complications are what we specialise in," he said.

Constellation is expecting to grow net sales at 15% per year over the next five years, the FT reported. Half will come from acquisitions, the company estimates.