Constellation Brands, which begins its financial year in March, had a rollercoaster of a first quarter for FY 2021, with net sales declining 6%, to $1.9 billion, but beer depletions (sales to retailers) increasing 5.6%.
Constellation Brands’ venture capital arm will invest $100 million in beverage alcohol startups with Black founders over the next decade, the company announced today.
The National Beer Wholesalers Association’s monthly Beer Purchasers’ Index bounced back from a dismal 35 reading in April to an overall index of 66 in May. Long-time Vermont Cider Co. executive Terry Hopper is exiting the maker of Woodchuck Hard Cider, effective today. And more industry news bites.
Two months after Constellation Brands made a minority investment in Press Premium Alcohol Seltzer, the company’s chief commercial officer for its beer division, Bruce Jacobson, announced he is leaving the beer, wine and spirits company after 17 years to join the Milwaukee, Wisconsin-based hard seltzer maker.
Stone Brewing Company laid off employees of its restaurants, taprooms and distributions sales force, which amounted about 306 workers. Some state lawmakers have proposed bills that would extend business interruption insurance clauses to cover losses sustained from closures due to the COVID-19 pandemic.
Constellation Brands will continue production of import brands Corona, Modelo and Pacifico at its facilities in Mexico, despite the suspension of nonessential businesses in that country.
The U.S. House of Representatives passed the $2.2 trillion stimulus package Friday afternoon and sent the bill to President Donald Trump, who signed the bill into law at 4 p.m. ET in the Oval Office. U.S. brewers shipped 11,350,000 barrels in February, a decline of 0.7% compared to February 2019, according to national trade group the Beer Institute.
In an effort to reassure attendees of next month’s Craft Brewers Conference & BrewExpo America in San Antonio, Texas, the Brewers Association (BA) said Monday that the show will go on as planned despite fears over the spread of the coronavirus-caused disease, COVID-19.
Constellation Brands’ beer portfolio recorded another period of growth in shipments, depletions and net sales, the Victor, New York-headquartered beer, wine and spirits company announced today during its fiscal year 2020 third quarter earnings report.
Canadian Cannabis company Canopy Growth Corporation announced today the appointment of David Klein as CEO, effective January 14, 2020. Meanwhile, Constellation Brands has named Garth Hankinson as Klein’s replacement.
Four years after paying $1 billion for Ballast Point Brewing Company, Constellation Brands today threw in the towel on its big craft bet, announcing an agreement to sell the San Diego craft beer brand along with “a number of its associated production facilities and brewpubs” to Kings & Convicts, a little-known Chicagoland craft brewing company.
Former Boston Beer CMO joins Courvoisier. Jester King head brewer departs to start new brewing project in Chicago. Lawson’s Finest Liquids hires first marketing director.
White Claw maker Mark Anthony Brands plans to spend $385 million — $135 million more than the previously projected $250 million — to build production facilities in New Jersey and at a still-undisclosed location in the western United States, founder and CEO Anthony von Mandl shared during the Beer Insights Seminar conference in New York on Monday.
Constellation Brands has once again promoted Mallika Monteiro. Last Friday, the New York-headquartered maker of Mexican import brands Corona, Modelo and Pacifico appointed Monteiro as executive vice president and chief growth and strategy officer. Meanwhile, Ceria Beverages, which makes THC-infused, non-alcoholic beers, has appointed Greg Miller as its first vice president of business development.