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Constellation Sales Up 6% In Third Quarter, Driven By Strong Beer Growth And Meiomi

January 7, 2016

Constellation Brands has reported a 6% net sales rise, to $1.64 billion, for its fiscal third quarter ended in November, as the group’s net income also rose, up 22% to $271 million on the same period last year. Progress was led primarily by the group’s beer business, which grew sales 8% over the quarter, bolstered by depletions growth of more than 16%.

The majority of Constellation’s beer portfolio posted double-digit gains over the three-month period, with the Corona Extra and Modelo Especial brands, in particular, demonstrating “accelerating momentum,” said Constellation president and CEO Rob Sands. Constellation also revealed its intention to develop a new $1.5 billion brewery in Mexicali, Mexico, to support growth.

Meanwhile, Constellation’s wine and spirits net sales grew 3%, buoyed by the company’s recent acquisition of the Meiomi wine brand, which was up more than 80% in IRI channels over the three-month period. Other third quarter wine highlights included the Kim Crawford, The Dreaming Tree, Mark West, Ruffino and Clos du Bois brands, all of which posted solid depletions gains.

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