Constellation Brands will invest in beer business

Mexico City /

Constellation Brands, a company in spiritsIt plans to invest in its beer business between $5 billion and $5.5 billion.

According to the financial report of the company that has the Grupo Modelo trademark marketing license in United State, indicates that this amount includes the installation of its factory in Veracruz.

The figure will be practiced between fiscal years 2023 and 2026 and with this, it will produce an additional 25 million-30 million hectoliters.

“Our increased investment in capacity in Mexico will enable us to seize the continued growth opportunities we see in the high-end segment of American beer going forward,” he said. Garth Hankinson, Financial Director of the company Constellation brands.

The capital is also thinking of improving and expanding its complexes in Nava, Coahuila and Ciudad Obregon, Sonora.

During the third quarter of fiscal year 2022, the company indicated that its beer segment, which accounts for 75 percent of its total revenue, reached $1.752 billion in sales, implying 3.1 percent growth.

MRA

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Aileen Morales

"Beer nerd. Food fanatic. Alcohol scholar. Tv practitioner. Writer. Troublemaker. Falls down a lot."

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