Just like the Kansas City Chiefs, draft beer also took an L in Super Bowl LIX. Draft beer volume declined -4.6% nationwide on Super Bowl Sunday, according to on-premise insights firm BeerBoard.
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.
Production at craft breweries falling outside of the Brewers Association’s (BA) craft brewer definition collectively declined -4% on a comparable basis, to more than 8.68 million barrels in 2022, according to data shared by the trade group in the May/June edition of the New Brewer Magazine.
Constellation Brands has acquired a minority stake in TÖST, an alcohol-free sparkling beverage brand, the company announced yesterday.
The Consumer Price Index (CPI) for beer both at home (+6.1%) and away from home (+5.5%) outpaced overall inflation (+5%) in March 2023 compared to March 2022, according to the U.S. Bureau of Labor Statistics (BLS). Constellation Brands recorded an impairment charge of $66.5 million pertaining to what’s left of its craft beer division in its fiscal year 2023 fourth quarter, according to its most recent 8-K form filed with the U.S. Securities and Exchange Commission (SEC).
Constellation Brands’ beer business topped $7.456 billion in net sales, an +11% year-over-year increase (YoY), during its 2023 fiscal year, which ended February 28, the company reported today during its full-year and fourth-quarter earnings report.
Columbia Distributing, one of the National Beer Wholesalers Association’s (NBWA) largest members, has resigned from the trade group “effective immediately.”
A federal jury has found that Constellation Brands’ production of products such as Corona Hard Seltzer and Modelo Ranch Water does not violate the company’s licensing agreement with Anheuser-Busch InBev (A-B).
Not content to rest on Modelo’s laurels as the country’s No. 2 beer brand, Constellation aims to continue to raise consumer awareness, which increased +43% in 2022, VP of brand marketing Greg Gallagher said. “We have a ton of room to grow and we’ll have to continue to find new ways to attract more drinkers,” he said.
It’s not a matter of if but when Modelo Especial will become the nation’s No. 1 beer brand in dollar sales, Constellation Brands Beer Division president Jim Sabia told wholesalers Tuesday during the company’s Gold Network Summit in Las Vegas.
Jon London has returned to Boston Beer Company as brand director of Angry Orchard, the hard cider brand he helped launch more than a decade ago.
Both sales velocity and check value at bars and restaurants nationwide increased by nearly double-digits in early February, according to CGA, the on-premise arm of market research firm NielsenIQ. Leading up to the Super Bowl, which took place on February 12, on-premise velocity in the host city and state of Phoenix, Arizona, increased +35% compared to the previous week.
Constellation Brands credited its fall price increases for its beer business’ slowed depletion growth, during the company’s Q3 2023 earnings call with investors Thursday.
Constellation Brands’ beer division reported slowed shipment and depletion growth in Q3 2023 compared to recent quarters, with shipments up +2.7% and depletions up +5.7%.
A judge has denied Anheuser-Busch InBev subsidiary Grupo Modelo’s bid for partial summary judgment in its trademark infringement lawsuit against Constellation Brands for the company’s use of the Corona trademark for hard seltzer.
A judge has granted Pullayup, Washington-headquartered Olympic Eagle Distributing a preliminary injunction against Constellation Brands’ termination in the U.S. District Court for the Western District of Washington.
