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 announced today a pair of executive leadership moves within its beer division. Jim Sabia has been promoted to EVP and president of Constellation’s beer division, effective immediately.
Days after the BBC reported that Scottish beer maker BrewDog allegedly submitted false information to the U.S. Department of Treasury’s Alcohol and Tobacco Tax and Trade Bureau, keg labels for the two beers in question were surrendered. Meanwhile, the number of convenience stores operating in the U.S. stood at 148,026 in 2021, a 1.5% decline compared to the 150,274 stores in operation in 2020, according to NACS and NielsenIQ.
After announcing a partnership with Coca-Cola to launch spirits-based canned cocktail Fresca Mixed earlier today, Constellation Brands reported increases in shipments (+3.1%) and depletions (+8.4%) for its beer business in the third quarter of the company’s 2022 fiscal year. Constellation’s beer portfolio – which includes Mexican import brands Corona, Modelo and Pacifico – increased sales in Q3 FY 2022 (for the three months ending November 30, 2021) on top of difficult comps from elevated off-premise spending driven by the pandemic era fridge stocking in 2020.
Constellation Brands has entered a brand agreement with The Coca-Cola Company to manufacture, market, distribute and launch Fresca Mixed – a spirit-based ready-to-drink cocktail based on the citrusy soft drink.
Constellation Brands has reached an agreement with the Mexican government to construct a brewery in southeastern Mexico, according to the Wall Street Journal.
The rumored interest in a deal between Constellation Brands and energy drinks maker Monster has led to Wall Street analysts hypothesizing scenarios in which the two companies could potentially come together. The latest analyst to run through the hypothetical tie-up scenarios comes from RBC Capital Markets’ Nik Modi.
The lines between alcoholic and non-alcoholic beverages continue to blur. Bloomberg broke the news Sunday evening that Constellation Brands and energy drink maker Monster Beverage Corp. are considering a deal.
Canadian cannabis operator Canopy Growth Corporation has entered a definitive agreement to acquire cannabis edibles maker Wana Wellness for $297.5 million, which will go into effect upon federal legalization of THC in the U.S.
Constellation Brands executives addressed hard seltzer’s slowing sales during the company’s second quarter 2022 earnings call today, and assured investors and analysts that the success of its core beer brands would still drive growth. Here are some of the highlights of the discussion: Company Not Reliant on Hard Seltzer Constellation president and CEO Bill Newlands… Read more »
Constellation Brands’ beer business increased both shipments (+11.7%) and depletions (+7.3%) during the second quarter of its 2022 fiscal year, the company reported Wednesday.
Anheuser-Busch InBev (A-B) announced its solution to the “better-for-you” trend Thursday: Bud Light Next, a zero-carb beer slated for release in early 2022, according to CNN Business.
Anheuser-Busch InBev has filed a pair of lawsuits this week, including one accusing the company’s Texas-based energy supplier of price gouging during Winter Storm Uri in February. Symmetry Energy Solutions, which supplies natural gas to A-B’s brewery and glass manufacturing plant in Houston, billed the world’s largest beer manufacturer $4.85 million for its energy use in February 2021, due to Texas’ spot energy market.
Shipyard Brewing has appointed David Phillips as chief operating officer; Joe Heaton will depart the Beer Institute after serving as senior director of federal affairs for the national trade organization; and Constellation Brands has appointed Liz Lopez as VP of public affairs to lead on issues related to cannabis policy in the U.S.
Spirits and Mexican import beer giant Constellation Brands put its official stamp of interest on the trend by investing in HOP WTR, an emerging brand of zero-calorie sparkling water infused with the fruity bittering agents as well as some on-trend functional or adaptogenic ingredients like L-Theanine (potentially providing relaxation and focus) and Ashwagandha (a purported stress reliever).
