It is expected to close in September 2014 and is subject to customary closing conditions. Terms of the purchase were not disclosed.
The tequila category continues to grow steadily, with super premium and above tequila growing 10% in the US market in 2013 (according to Discus).
Casa Noble super premium tequila is a high-quality brand that posts consistent, double-digit growth.
“I’m excited for the opportunity to integrate Casa Noble tequila into our existing portfolio,” said Rob Sands, CEO, Constellation Brands. “As the first super premium spirits brand we’ll add to our portfolio, Casa Noble is a natural fit. It complements our successful Mexican beer brands and we intend to leverage our existing strong routes-to-market, as well as our marketing expertise and deep knowledge of the Hispanic consumer.”
Source: Constellation Brands
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