Constellation Brands, Inc. is an international producer and marketer of beer, wine, and spirits. The company's core business model centers around a portfolio of high-quality, consumer-connected brands, including Corona Extra and Modelo Especial. They are the second-largest beer company in the U.S. and the #1 share gainer in the high-end beer segment. The company has reshaped its wine and spirits portfolio to focus on higher-end brands and is expanding its supply channels through DTC and international markets. Constellation Brands operates through wholly-owned entities, joint ventures, and other entities.

• Employees: Approximately 10,600 (as of February 29, 2024)
• Geographic Footprint: U.S., Mexico, New Zealand, and Italy
• Headquarters: Victor, New York (through May 2024), Rochester, New York (thereafter)
• Founded: 1945
• Number of locations/facilities: Operates breweries, wineries, distilleries, and bottling plants
• Revenue: $9.96 billion (FY2024)
• Key Subsidiaries/Brands: Corona Extra, Modelo Especial, Robert Mondavi Winery, Kim Crawford, Meiomi, The Prisoner Wine Company, High West, Casa Noble, and Mi CAMPO

• CEO: William A. Newlands
• CFO: Garth Hankinson
• Chief Legal Officer: James O. Bourdeau
• Chief Human Resources Officer: K. Kristann Carey
• President, Wine and Spirits Division: Samuel Glaetzer
• Chief Communications, Strategy, ESG & Diversity Officer: Michael McGrew
• Chief Growth & Digital Officer and Managing Director, Beer Brands: Mallika Monteiro
• President, Beer Division: James A. Sabia, Jr.
• Board Chair: Christopher J. Baldwin

Key leaders have extensive experience in the beverage and consumer goods industries. William A. Newlands has served as CEO since March 2019 and as President since February 2018. Other executives have held various senior roles within Constellation Brands and other major companies.

• Annual Revenue: $9.96 billion (FY2024)
• Net Income: $1.73 billion (FY2024)
• Total Assets: $25.69 billion (as of February 29, 2024)
• Employees: Approximately 10,600 (as of February 29, 2024)
• Key Financial Highlights: Net sales increased 5% year-over-year, operating income increased 11% year-over-year, and net income attributable to CBI increased year-over-year.

Constellation Brands offers a diverse portfolio of alcoholic beverages:

• Beer: High-end imported beer brands, including Modelo Especial, Corona Extra, and Pacifico.
• Wine: Higher-end wine brands, including Robert Mondavi Winery, Kim Crawford, Meiomi, and The Prisoner Wine Company.
• Spirits: Craft spirits brands, including High West, Casa Noble, and Mi CAMPO.

The company operates through three reportable segments:

• Beer: Primarily focuses on high-end imported beer brands. Net sales of $8.16 billion in FY2024.
• Wine and Spirits: Focuses on higher-margin, higher-growth wine and spirits brands. Net sales of $1.80 billion in FY2024.
• Corporate Operations and Other: Includes corporate-related costs and investments.

Constellation Brands' strategy focuses on delivering industry-leading total stockholder returns. Key strategic priorities include:

• Building strong brands with advantaged routes to market.
• Creating a consumer-obsessed culture that leverages innovation.
• Disciplined capital allocation.
• Delivering impactful ESG initiatives.
• Empowering the enterprise for best-in-class operational efficiency.

The company is also investing in DTC and 3-tier eCommerce channels and is focused on procurement and supply chain planning.

Constellation Brands operates in the highly competitive beverage alcohol industry. Key market trends include consumer-led premiumization and a shift towards on-trend product innovation. The company competes with numerous multinational producers and distributors of beverage alcohol products, including Anheuser-Busch InBev, The Boston Beer Company, Heineken, Mark Anthony, and Molson Coors in the beer segment; Deutsch Family Wine & Spirits, Duckhorn Portfolio, E. & J. Gallo Winery, Ste. Michelle Wine Estates, Treasury Wine Estates, and Trinchero Family Estates in the wine segment; and Bacardi USA, Beam Suntory, Brown-Forman, Diageo, E. & J. Gallo Winery, Fifth Generation, Pernod Ricard, and Sazerac Company in the spirits segment. The company is the #1 brewer and seller of imported beer in the U.S. market and the leader in the high-end segment of the U.S. beer market.

• Operational Risks: Supply chain disruptions, water scarcity, reliance on limited glass bottle suppliers, and the impact of climate-related events.
• Cybersecurity Risks: Reliance on complex IT systems and third-party networks, and the potential for cyberattacks and data breaches.
• Economic and International Risks: Uncertainties associated with international operations, including economic instability, geopolitical tensions, and changes in trade policies.
• Production Risks: Dependence on limited facilities for production of Mexican beer brands, and risks associated with facility expansion and construction activities.
• Strategic Risks: Potential decline in consumption of products, dependence on sales of Mexican beer brands, and risks associated with acquisitions, divestitures, and NPD activities.