Constellation put new investment into Corona Extra cans

Constellation put new investment into Corona Extra cans

Constellation Brands has seen a big jump in canned sales of Corona Extra in the US over the past year after pin-pointing the format as “the latest craze”.

In the four weeks to 5 September, cans accounted for 8.1% of Corona Extra's total sales in the country, according to new Nielsen figures. Last year, Constellation said that as of the end of August, cans accounted for just 2% of Corona Extra sales.

The boost comes as Constellation invests in the can format with a Corona Extra campaign and a can production line. Constellation's CFO, Bob Ryder, said last year that cans are where the “vast majority” of growth is in the industry. “In craft, cans are the latest craze and we see a huge opportunity,” he added.

According to the Nielsen figures, cited by analysts CITI, sales growth for Corona Extra's aluminium cans accelerated slightly to 276% in the four-week period. The average growth over the past six months was 243%.

The Corona brand is owned by Anheuser-Busch InBev, but Constellation has the full rights in the US. AB InBev agreed to cede control of the brand in the US in the wake of its US$20.1bn takeover of Grupo Modelo in 2013.