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 capped another strong year for its beer business with full-year net sales growth of +9% for its beer brands, hitting the top end of the company’s +8% to +9% growth expectations for fiscal year 2024, company leadership shared Thursday.
Constellation Brands is expected to be the biggest winner in shelf resets this spring, according to the most recent Beverage Bytes beer distributor survey by Goldman Sachs.
Beer had an expected St. Patrick’s Day boost, with dollar sales in Circana-tracked off-premise channels increasing +5.3% year-over-year (YoY) in the week ending March 17, according to the market research firm.
A panel of judges has upheld a jury decision that Constellation Brands did not violate its sublicense with Anheuser-Busch InBev (A-B) when it introduced Corona Hard Seltzer.
Modelo Especial is now a 200-million case brand, as depletions crossed that milestone in the latest rolling 52-week period, Greg Gallagher, VP of brand marketing for Constellation Brands’ beer division, shared during Tuesday’s Gold Network Summit in Las Vegas.
The “Internet Daddy” has found his beach. Pedro Pascal, star of The Mandalorian and The Last of Us, is the new lead brand ambassador for Corona.
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.
