Constellation Brands, Inc. (NYSE: STZ and STZ.B), based in Victor, New York, is a leading wine, beer and spirits company with a broad portfolio of premium brands. Constellation is the world leader in premium wine, the number one beer importer and the number three beer company in the U.S. The company’s brand portfolio includes Corona Extra, Corona Light, Modelo Especial, Modelo Negra, Pacifico, Ballast Point, Robert Mondavi, Clos du Bois, Kim Crawford, Meiomi, Mark West, Franciscan Estate, Ruffino, Jackson-Triggs, SVEDKA Vodka and Casa Noble Tequila.
Surging freight costs, a shortage of long-haul truck drivers and new laws restricting the number of hours that drivers can be on the road are cutting into profits of beer companies and other major corporations throughout the United States. Although increased transportation costs are affecting all consumer goods industries, Beer Institute chief economist Michael Uhrich told Brewbound that they’re disproportionately affecting the beer industry because the vast majority of beer sold domestically is shipped. Last year, beer companies shipped 2.9 billion cases of beer, according to the National Beer Wholesalers Association.
Thousands of California beer industry professionals met in Sacramento last week for the California Craft Brewers Association annual three-day Craft Beer Summit, Expo and Beer Festival. As an official media partner of the event, Brewbound hosted 10 hours of live streamed interviews, and sat in on a variety of seminars during the show. Here’s what we learned.
Inspired by beer that was served at pre-prohibition saloons, Western Standard, a High West endeavor, is rolling out now in Minneapolis, Salt Lake City and Phoenix. Western Standard is a modern sessionable barrel-aged lager blended with beer aged in High West bourbon barrels.
Constellation Brands, Inc. (NYSE: STZ and STZ.B), a leading beverage alcohol company, announced today that Bill Newlands, president and chief operating officer and David Klein, chief financial officer, will present at the Barclays Global Consumer Staples Conference on Wednesday, September 5, 2018, at the Intercontinental Hotel in Boston, Mass.
This pretty lady will make you pucker. Ballast Point is kicking off a new Trade Street Collection with a barrel-aged version of award-winning sour, introducing a new White Wine Barrel-Aged Sour Wench available nationwide.
Corona Extra® has drafted former star quarterback and current football analyst Tony Romo as the operator and face of the fan-favorite Corona Hotline, which returns for its second year this football season. Featuring a new number, 1-844-9-Corona, fans can call the Corona Hotline all season long to tap into Romo’s renowned powers of prediction, hear gameday reflections and enter for a chance to win prizes such as Corona gear or poolside seats in Las Vegas for the Big Game.
Following the signing of a law allowing Illinois breweries to immediately begin selling beer and cider from outside beer companies in their taprooms, several Chicago restaurant and craft beer bar owners expressed concern that new regulations create additional competition for their businesses. However, a couple of Chicago brewery owners told Brewbound that they don’t anticipate major changes in the way they run their taproom businesses.
On the same day that it announced a $4 billion investment into Canada’s Canopy Growth Corporation, Constellation Brands also laid off dozens of employees tasked with selling the company’s craft and specialty beers throughout the U.S. Constellation — whose craft portfolio includes Ballast Point in California, Funky Buddha in Florida and Four Corners Brewery in Texas as well as Mexican import brands Corona, Modelo and Pacifico — terminated around 60 of its 100 or so craft and specialty reps, a source familiar with the situation told Brewbound.
Constellation Brands is taking a second hit of Canopy Growth Corporation (TSX: WEED). Less than a year after spending $191 million to acquire a 9.9 percent stake in the Canadian cannabis company, the Corona and Modelo maker today announced it would invest approximately $4 billion to acquire 104.5 million shares of Canopy, raising its stake to about 38 percent.
Constellation Brands is continuing to invest behind an own-premise retail strategy for its Ballast Point brand, yesterday confirming plans to open another California brewpub in 2019. The new Ballast Point location – its eighth in California and the tenth in the U.S. — will be located in San Francisco’s Mission Bay neighborhood, where the NBA’s Golden State Warriors are building a new stadium.
In the latest round of People Moves: Modern Times scales back its taproom staff; North Carolina’s guild director departs; and more beer company changes.
In this week’s Last Call: A look at California beer production; Sen. Schumer backs permanent excise tax cuts; TTB accepts $20,000 offer in compromise from Cigar City; and more beer industry news.
Constellation Brands will expand its reach in the craft beer segment with the acquisition of Texas’ Four Corners Brewing, the New York-based beverage alcohol company announced today. Financial terms of the transaction were not disclosed.
In this edition of People Moves: Joe Menetre, the former vice president of sales at New Belgium Brewing Company, has joined Fort Collins-based Suerte Tequila. Meanwhile, Constellation Brands has appointed former DHL executive Ricardo Bartra as its chief technology officer, and Sun King Brewing president Bob Whitt will step back from his day-to-day responsibilities at the end of July.
