The transaction includes full ownership of Crown Imports LLC, which provides Constellation with complete, independent control of all aspects of the US commercial business; a state-of-the-art brewery in Nava (Piedras Negras), Mexico; exclusive perpetual brand licence in the US to import, market and sell Corona and the Modelo brands Crown currently sells and the freedom to develop brand extensions and innovations for the US market.
“Today begins a new chapter in Constellation’s history,” said Rob Sands, president and CEO, Constellation Brands. “We are now the proud owners of six of the top 20 imported beer brands in the US and a coveted portfolio of premium brands in the growing US imported beer category.
“We are committed to successfully running and investing in the world-class Mexican brewery and are very excited about the potential for developing new products and line extensions within the portfolio of brands in the US.”
With the close of the acquisition, Constellation begins to operate as one company with two divisions: a beer division and a wine and spirits division.
Constellation plans to invest $500-$600m during the next three years to expand the facility to double its current capacity to meet projected demand for products in the US.
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