Constellation Brands

Canopy Growth Enters Agreement to Buy Wana Wellness for $297.5M

Canopy Growth Enters Agreement to Buy Wana Wellness for $297.5M

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 CEO: Growth Not Reliant on Hard Seltzer, Growth Driven by Beer Brands; Corona Hard Seltzer to be Reformulated

Constellation Brands CEO: Growth Not Reliant on Hard Seltzer, Growth Driven by Beer Brands; Corona Hard Seltzer to be Reformulated

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 »

A-B Lawsuit Claims Texas Energy Provider Price Gouged During Feb. Storm; Grupo Modelo Files Another Lawsuit Against Constellation

A-B Lawsuit Claims Texas Energy Provider Price Gouged During Feb. Storm; Grupo Modelo Files Another Lawsuit Against Constellation

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.

People Moves: Shipyard Brewing Adds David Phillips as COO; Public Affairs Changes at the Beer Institute, Constellation Brands

People Moves: Shipyard Brewing Adds David Phillips as COO; Public Affairs Changes at the Beer Institute, Constellation Brands

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.

With Constellation Brands Investment, HOP WTR Plans to ‘Leapfrog Growth’

With Constellation Brands Investment, HOP WTR Plans to ‘Leapfrog Growth’

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).

Legal Roundup: Sierra Nevada Counter Sues Matagrano; Grupo Modelo-Constellation Brands Lawsuit Continues

Legal Roundup: Sierra Nevada Counter Sues Matagrano; Grupo Modelo-Constellation Brands Lawsuit Continues

Sierra Nevada has filed a counter lawsuit against Matagrano, Inc., the Chico-headquartered craft brewery’s former South San Francisco-based wholesaler, in the Superior Court of the state of California, County of San Mateo. The trademark lawsuit between Constellation Brands and Anheuser-Busch InBev’s Grupo Modelo over the former’s ability to produce and sell Corona Hard Seltzer will continue, despite Constellation’s motion to dismiss, a federal judge ruled this week.

Constellation Brands’ Beer Sales Top $6 Billion in Fiscal Year 2021

Constellation Brands’ Beer Sales Top $6 Billion in Fiscal Year 2021

Net sales of Constellation Brands’ beer portfolio — including Mexican import labels Corona, Modelo and Pacifico — topped $6 billion, an 8% increase, in fiscal year 2021, the company shared today while reporting its full-year earnings.

Constellation Brands’ Depletions Increase 12% in Q3; Funky Buddha Hard Seltzer to Expand to 10 Markets

Constellation Brands’ Depletions Increase 12% in Q3; Funky Buddha Hard Seltzer to Expand to 10 Markets

The biggest challenge the producer of popular Mexican import brands Corona, Modelo and Pacifico faced in 2020 came in March when the Mexican government ordered the shutdown of all manufacturing industries, including beer. This pause in production led to depleted inventory that was still being replenished into the third quarter and created a gap between shipments (sales to wholesalers) and depletions (sales to retailers) growth.