| |||||||||||||||||||||||
| |||||||||||||||||||||||
 Constellation Brands Inc.'s quarterly earnings are up 6%, and its joint venture with Grupo Modelo SAB de CV will "remain intact," CEO Rob Sands said during a conference call.
Constellation imports Mexican beers Corona and Negra Modelo through Crown Imports LLC, a joint venture with Grupo Modelo that the pair are committed to through 2016. Grupo Modelo is 50%-owned by Anheuser-Busch Cos., which is fighting a hostile takeover bid by InBev SA. During the conference call, Sands also addressed rumors that Constellation may be interested in Foster's Group Ltd.'s wine business. "Clearly our focus is hunkering down and paying down debt," he said. "We are focused on generating internal efficiencies at the moment." Fosters is considering strategic alternatives for the business, which is valued at $3.55 billion. There were rumors that Constellation could be interested in U.S.-based Beringer Blass if it were sold separately. Beringer Blass owns 10,000 acres of vineyards in Napa, Sonoma and other parts of California that alone could be worth A$1.5 billion ($1.4 billion). - Maria Woehr See Dealscape: Foster's is Australian for beer, but maybe not wine Categories Deal Video
    Community
 Elsewhere on The Deal.comDealwatchThe Deal MagazineCorporate Dealmaker
The Deal VideoCategories
Blog roll
Archives
| |||||||||||||||||||||||
|
|
|
|
|
