Constellation Brands and Molson Coors are expected to annex more shelf and cooler space in convenience stores following the upcoming spring 2024 resets, according to Goldman Sachs Equity Research’s recent Beverage Bytes survey.
Constellation Brands leaders laid out a vision for “dialing up” growth for its portfolio of Mexican import offerings over the next five years during Monday’s opening session of its Gold Network Summit at Caesar’s Palace in Las Vegas.
Anheuser-Busch InBev’s (A-B) Bud Light was dethroned by Michelob Ultra as the country’s best-selling draft beer on Super Bowl Sunday as drinkers watched the Kansas City Chiefs defeat the San Francisco 49ers in overtime, according to on-premise data firm BeerBoard.
The convenience channel remains a bright spot for beer as the category tackles declines elsewhere, and growth in the channel is expected to continue through 2024, Goldman Sachs analysts reported in the company’s latest Bev Bytes retailer survey.
Patience is paying off for Pacifico. Constellation Brands is giving its third-largest beer brand the time and space it needs to grow, Beer Division president Jim Sabia said during the annual Beer Industry Summit last week.
Constellation Brands overtook Molson Coors as the No. 2 beer category vendor by dollar sales in multi-outlet grocery and convenience stores (MULO+C) in 2023, according to market research firm Circana, which shared its year-end report. Constellation grew off-premise dollars by $1.092 billion to $8.446 billion through December 31.
Constellation Brands has raised its full-year operating income guidance for its beer brands to +7% to +8% (previously +6% to +7%), following another quarter of shipments and depletions growth, the company reported today in its Q3 earnings results.
Martignetti Companies has closed on its acquisition of Quality Beverage, according to a press release. Financial terms of the deal, which was announced in April 2023, were not disclosed.
The fallout surrounding the conservative-led boycott of Anheuser-Busch’s (A-B) Bud Light brand and the accelerated declines that ensued accounted for three of Brewbound’s top stories of 2023. The internal machinations at A-B, including a reshuffling of its craft division, also piqued Brewbound readers’ interests. As we close out the year, here’s a look back at the 10 most-read stories of 2023.
Red Tree Beverages, Coca-Cola’s “firewalled, wholly owned” subsidiary to explore beverage-alcohol, has no intention of getting into the distribution business, Red Tree president Jenny Dowdy said yesterday during Beer Marketer’s Insights fall seminar.
Constellation Brands has launched Shyft, “a new flavor changing” flavored malt beverage (FMB), in three markets as part of a newly created “emerging brands group” aimed at creating new-to-world brands with “a more focused but longer testing approach,” CEO Bill Newlands announced during the company’s “Investor Day” on Thursday.
Beverage sales in the convenience channel remained “healthy” in Q3 2023, up +4.4%, despite decelerating from stronger +6.6% growth in Q2, according to the latest Beverage Bytes survey of retailers conducted by Goldman Sachs Equity Research.
Massachusetts-based Quality Beverage has filed a lawsuit against Constellation Brands, alleging the bev-alc giant has interfered with its pending sale to wine and spirits wholesaler Martignetti Companies.
Monster Energy is “all-in on alcohol” and “thinks it could be big for them by 2025,” according to Goldman Sachs equity analyst Bonnie Herzog’s report from the National Association of Convenience Stores (NACS) trade show. The energy drink maker, which entered beverage-alcohol with the acquisition of CANarchy in January 2022, displayed its forthcoming hard tea, Nasty Beast Hardcore Tea during the show, Herzog wrote.
Constellation Brands continues to grow its beer business, increasing net beer sales +12% year-over-year (YoY) in Q2 of fiscal year 2024 (+$253 million), to more than $2.39 billion.
