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Constellation seeks to reassure Modelo's U.S. beer distributors
March 4 |
March 4 (Reuters) - Constellation Brands Inc sought to reassure the U.S. distributors of Grupo Modelo's beers on Monday that the brand will continue to grow in the United States after the wine company takes it over.
Constellation Chief Executive Officer Rob Sands said in a letter that the company's experience in "producing and moving hundreds of millions of cases of beverage alcohol annually" will help it to successfully own and run the Piedras Negras brewery in Mexico, near the U.S. border.
Constellation would acquire the brewery as part of a revised deal by which Anheuser-Busch InBev SA would buy out Modelo. Constellation already owns half of Crown Imports, Modelo's U.S. distributor. In addition to buying the factory, Constellation would take full control of Crown.
"Constellation and Crown are completely aligned on goals, strategies and investments for this business, including our strategy of continuing to gain market share by growing the business organically and adding new products to the portfolio," Sands said in the letter, a copy of which was seen by Reuters.
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