Constellation Brands Doubles Down on Corona to Build on Wine
Constellation Brands Doubles Down on Corona to Build on Wine
Jun 29, 2012 6
(Bloomberg) - Constellation Brands Inc. (STZ), the world’s largest wine seller, is doubling down on Corona as it looks to widen its lead as the top U.S. beer importer.
The $1.85 billion agreement to buy the other half of its Crown Imports joint venture with Grupo Modelo SAB gives Constellation more control over the best-selling import beer in the U.S. The perpetual contract also gives the winemaker confidence to invest more heavily in beer, according to Chief Executive Officer Rob Sands.
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