Alcohol Brands: The Big 3 Companies Behind Most Drinks

Three Corporations, Hundreds of Bottles

Walk into any bar, liquor store, or restaurant, and the sheer variety of alcoholic beverage brands can feel overwhelming. Thousands of labels compete for your attention across beer, wine, spirits, and ready-to-drink cocktails. But behind this apparent diversity, a remarkably small number of corporations control the majority of what you drink.

The global alcoholic beverages market generated approximately $1.7 trillion in revenue in 2025, according to IWSR. Three companies dominate: Anheuser-Busch InBev (beer), Diageo (spirits), and LVMH/Moet Hennessy (luxury wines and spirits). Together with a handful of other major players, these corporations own the brands behind most of the bottles on the shelf.

The Big 3: Who They Are

1. Anheuser-Busch InBev (AB InBev)

Headquarters: Leuven, Belgium

Ticker: NYSE: BUD

Annual Revenue: ~$57 billion (2024)

Market Share: ~28% of global beer

AB InBev is the world's largest brewer and the dominant force in the global beer market. The company was formed through decades of mergers, most notably the 2008 merger of InBev and Anheuser-Busch ($52 billion) and the 2016 acquisition of SABMiller ($107 billion).

Key beer brands:

• Budweiser (America's iconic lager)
• Stella Artois (Belgian premium lager)
• Corona (Mexican beer, outside U.S.)
• Beck's (German lager)
• Hoegaarden (Belgian wheat beer)
• Leffe (Belgian abbey ale)
• Michelob Ultra (low-calorie beer)
• Busch (value beer)
• Natural Light (value beer)
• Goose Island (craft beer)

Important note on Corona: In the United States, Corona is distributed by Constellation Brands, not AB InBev, due to a regulatory requirement from the SABMiller acquisition. Outside the U.S., Corona is an AB InBev brand.

AB InBev also owns or holds stakes in numerous regional and craft beer brands worldwide, including Antarctica and Brahma (Brazil), Harbin (China), and Camden Town Brewery (UK).

2. Diageo

Headquarters: London, United Kingdom

Ticker: NYSE: DEO / LSE: DGE

Annual Revenue: ~$20 billion (2024)

Market Position: World's largest spirits company

Diageo dominates the global spirits market with a portfolio that spans nearly every major spirits category.

Key spirits brands:

• Johnnie Walker (Scotch whisky, the world's best-selling blended Scotch)
• Smirnoff (vodka, the world's best-selling vodka brand)
• Guinness (Irish stout)
• Don Julio (premium tequila)
• Captain Morgan (rum)
• Baileys (Irish cream liqueur)
• Tanqueray (gin)
• Crown Royal (Canadian whisky)
• Ketel One (premium vodka)
• Casamigos (tequila, co-founded by George Clooney, acquired 2017 for up to $1 billion)
• Buchanan's (Scotch whisky, strong in Latin America)

Diageo's portfolio is strategically diversified across price points and spirit types. The company has been particularly aggressive in the premium tequila segment, where Don Julio and Casamigos have driven significant revenue growth.

3. LVMH / Moet Hennessy

Headquarters: Paris, France

Ticker: EPA: MC

Annual Revenue (Wines & Spirits division): ~$7 billion (2024)

LVMH (Louis Vuitton Moet Hennessy) is primarily known as a luxury goods conglomerate, but its Wines & Spirits division is one of the most valuable portfolios in the industry, focused on the premium and luxury segments.

Key wine and spirits brands:

• Hennessy (cognac, the world's best-selling cognac brand, ~50% global market share)
• Moet & Chandon (champagne)
• Dom Perignon (prestige champagne)
• Veuve Clicquot (champagne)
• Krug (champagne)
• Belvedere (vodka)
• Glenmorangie (Scotch whisky)
• Ardbeg (Scotch whisky)
• Chateau d'Yquem (Sauternes wine)
• Cloudy Bay (New Zealand wine)

Hennessy alone accounts for roughly half of LVMH's Wines & Spirits revenue and approximately 50% of the global cognac market. This concentration gives LVMH outsized influence in the luxury spirits segment.

Other Major Players

Beyond the Big 3, several other corporations control significant portions of the global alcohol market:

Constellation Brands: The U.S. Beer King

Constellation Brands deserves special mention. Through a unique regulatory arrangement, Constellation holds exclusive U.S. distribution rights for Corona and Modelo (including Modelo Especial, which became America's best-selling beer in 2023). This deal, which resulted from AB InBev's acquisition of SABMiller, has made Constellation one of the most profitable beer companies in the United States.

Modelo Especial overtook Bud Light as the number-one selling beer in the U.S. in June 2023 and has maintained that position through 2025, a remarkable shift in the American beer market.

How Consolidation Shaped the Industry

The alcohol industry has consolidated dramatically over the past three decades:

Key consolidation milestones:

• 1997: Grand Metropolitan merges with Guinness to form Diageo
• 2001: Pernod Ricard acquires Seagram spirits portfolio
• 2004: InBev formed from merger of Interbrew and AmBev
• 2008: InBev acquires Anheuser-Busch for $52 billion
• 2015: Heineken acquires various SABMiller brands
• 2016: AB InBev acquires SABMiller for $107 billion (largest beer deal ever)
• 2017: Diageo acquires Casamigos for up to $1 billion
• 2021: Constellation Brands invests further in premium Mexican beer portfolio

This consolidation means fewer companies control more brands, giving them enormous power over pricing, distribution, and shelf space.

The Craft Beer Exception (and Its Limits)

The craft beer movement has provided some counterweight to consolidation. Thousands of independent breweries now operate across the United States alone. However, many successful craft breweries have been acquired by major corporations:

• Goose Island was acquired by AB InBev in 2011
• Elysian Brewing was acquired by AB InBev in 2015
• Ballast Point was acquired by Constellation Brands in 2015 for $1 billion (later sold at a significant loss)
• Lagunitas was acquired by Heineken in 2017

The Brewers Association, which tracks independent craft breweries, uses an "Independent Craft Brewer" seal to help consumers identify beers from breweries that are not controlled by a major corporation.

What This Means for Consumers

Price tiers are engineered. When AB InBev offers Natural Light as a budget option, Budweiser as mainstream, and Stella Artois as premium, it is capturing consumers at every price point. All three purchases benefit the same corporation.

"Craft" does not always mean independent. Some beers marketed with craft aesthetics, local imagery, and artisanal positioning are owned by multinational corporations. Check the label or search on WhoBrands if independence matters to you.

Competition is less than it appears. When you choose between two seemingly competing brands at a bar, they may be owned by the same parent company. Johnnie Walker and Smirnoff, for example, are both Diageo brands.

Frequently Asked Questions

Who owns the most alcohol brands?

AB InBev owns the most beer brands, with over 500 brands across more than 50 countries. Diageo owns the most spirits brands, with over 200 brands in more than 180 countries. LVMH's Moet Hennessy controls the most luxury wine and spirits brands.

Who owns Budweiser?

Budweiser is owned by AB InBev, the world's largest brewer. AB InBev acquired Anheuser-Busch (Budweiser's parent) in 2008 for $52 billion.

Who owns Jack Daniel's?

Jack Daniel's is owned by Brown-Forman Corporation, a publicly traded American company based in Louisville, Kentucky. The Brown family has controlled Brown-Forman since its founding in 1870.

Is Corona owned by the same company as Budweiser?

It depends on the market. In the United States, Corona is distributed by Constellation Brands. Outside the U.S., Corona is owned by AB InBev. This split resulted from regulatory requirements during AB InBev's 2016 acquisition of SABMiller.

The Bottom Line

The global alcohol industry is dominated by a small number of corporations that own hundreds of brands across beer, wine, and spirits. Understanding this ownership landscape helps consumers recognize that the variety they see on store shelves is often less diverse than it appears. Whether that concentration matters to you is a personal decision, but the information is worth knowing.

Want to explore alcohol brand ownership? Browse beverage brands or search for a specific brand.

Explore Related Brands

• Budweiser - America's iconic lager, owned by AB InBev
• Guinness - Irish stout, owned by Diageo
• Johnnie Walker - World's top Scotch whisky, owned by Diageo
• Hennessy - World's top cognac, owned by LVMH
• Jack Daniel's - Tennessee whiskey, owned by Brown-Forman
• Corona - Mexican beer, distributed by Constellation in U.S.

Browse all beverage brands

Sources

1. IWSR. "Global Alcoholic Beverages Market Report." 2025. 2. AB InBev Annual Report 2024. ab-inbev.com/investors 3. Diageo Annual Report 2024. diageo.com/investors 4. LVMH Annual Report 2024. lvmh.com/investors 5. Brewers Association. "Independent Craft Brewer Seal." brewersassociation.org 6. Nielsen IQ. "U.S. Beer Market Data." 2025.

All brand ownership data verified through WhoBrands.com's research methodology. Last updated: January 26, 2026.