Constellation Brands Sees Growth In Mexican Beer Category
Constellation Brands, parent company of Corona, reported a huge increase in net sales (17 percent) in its beer category and is crediting its Mexican beer brands. The style of beer is so successful due to easy drinkability, similar to light lagers in the United States, Fortune reported.
"Our beer business continues to be a powerhouse for growth. We exceeded our profit and margin goals for the year," Rob Sands, chief executive at Constellation Brands, said in a recent earnings call.
Competing companies, such as Anheuser-Busch InBev and Molson Coors, reported a decline in sales last year, but Constellation has been able to stay on top, especially with its acquisition of Ballast Point and an expansion in its craft beer category.
The company expects to continue growth in 2017 with a 9 to 11 percent increase in sales.