Constellation Brands, Inc.

Is Constellation Brands publicly traded?
Yes, Constellation Brands trades on the New York Stock Exchange under ticker STZ. The company has a dual-class share structure with Class A shares publicly traded and Class B super-voting shares held primarily by the Sands family. This structure gives the founding family effective control over major corporate decisions. Major institutional shareholders include Vanguard Group, BlackRock, and State Street.

Does Constellation Brands own Corona?
Constellation Brands holds the exclusive US import, marketing, and distribution rights for Corona, Modelo, Pacifico, and Victoria beer brands. These rights were acquired from Anheuser-Busch InBev in 2013 for approximately $5.3 billion as part of an antitrust-mandated divestiture. Outside the United States, these brands are owned by AB InBev through Grupo Modelo. Constellation does not own the brands globally, only the US rights.

What is the best-selling beer in the United States?
Modelo Especial, distributed in the United States by Constellation Brands, became the best-selling beer brand in the United States in 2023, surpassing Bud Light. This milestone reflected the growth of Mexican imported beers and the decline of Bud Light following the 2023 controversy. Corona Extra is the best-selling imported beer in the United States.

Who founded Constellation Brands?
Constellation Brands was founded in 1945 by Marvin Sands as the Canandaigua Wine Company in Canandaigua, New York. The company initially produced fortified wine. It went public in 1973 and grew through decades of acquisitions. The Sands family continues to maintain significant influence over the company through super-voting Class B shares.

What is Constellation Brands' annual revenue?
Constellation Brands generated approximately $9.77 billion in net sales for fiscal year 2026 (ended February 28, 2026). The beer segment accounts for approximately 80% of net sales, with the wine and spirits segment accounting for approximately 20%. Beer net sales grew 2.3% in FY2026, while wine and spirits net sales declined.

Who is the CEO of Constellation Brands?
Bill Newlands served as CEO of Constellation Brands from 2019 until his announced departure, with Ashwin Dodia named as his successor as part of a planned transition. Newlands oversaw the company's focus on its high-margin beer business and the exploration of strategic options for the wine and spirits portfolio. The leadership transition was announced in 2025.

Does Constellation Brands make wine?
Yes, Constellation Brands produces wine through its Wine and Spirits segment. The company owns Robert Mondavi, Kim Crawford, Meiomi, The Prisoner, and several other wine brands. However, the wine and spirits segment has experienced declining sales for several years, and the company has been evaluating strategic options for this portfolio, including the 2025 sale of SVEDKA vodka to Sazerac.

Constellation Brands was founded in 1945 by Marvin Sands as the Canandaigua Wine Company in Canandaigua, New York. The company initially produced and sold fortified wine, gradually expanding its portfolio through acquisitions of wine brands and wineries across the United States. For its first several decades, the company was primarily a wine producer.

The company went public in 1973, listing on the New York Stock Exchange. Throughout the 1980s and 1990s, Constellation grew through acquisitions, purchasing wine brands and wineries to build a diversified portfolio. The company expanded internationally, acquiring wine operations in Australia, New Zealand, and Europe.

In 2004, Constellation acquired Robert Mondavi Corporation for approximately $1.36 billion. This deal brought one of the most recognized names in American wine into the portfolio. The acquisition included the Robert Mondavi Winery in Napa Valley, Woodbridge, and Private Selection brands. Other wine acquisitions followed, including Kim Crawford (2006), Meiomi (2015), and The Prisoner (2016).

The transformative moment in Constellation's history came in 2013. Anheuser-Busch InBev was required by US antitrust regulators to divest the US operations of Corona and Modelo as a condition of its acquisition of Grupo Modelo. Constellation acquired these US rights for approximately $5.3 billion, gaining exclusive control of the US import, marketing, and distribution of Corona, Modelo, Pacifico, and Victoria. This deal transformed Constellation from a wine company into a beer-dominated beverage company.

The Corona and Modelo acquisition proved enormously successful. Modelo Especial grew to become the best-selling beer brand in the United States by 2023, surpassing Bud Light. Corona Extra, Corona Premier, and Pacifico also grew significantly. The beer segment's growth drove Constellation's revenue and stock price to record levels in the years following the acquisition.

In recent years, Constellation has faced headwinds. Wine and spirits sales have declined as consumer preferences shift. The company has divested underperforming assets, including the sale of SVEDKA to Sazerac in 2025. In FY2026, the company reported net sales of approximately $9.77 billion, with beer net sales growing 2.3% and wine and spirits net sales declining. The company has been evaluating strategic options for its wine and spirits portfolio, including potential divestitures.

In 2025, Constellation announced a major leadership transition. Bill Newlands announced he would step down as CEO, with Ashwin Dodia named as his successor. The transition was part of a planned succession process. The company also faced challenges from potential tariff threats on Mexican imports, which could significantly impact the beer segment given that all of Constellation's beer brands are produced in Mexico.

Constellation Brands publishes sustainability reports and has made commitments in several areas. The company has set goals for reducing water usage in its brewery operations, which is a critical resource given that beer production is water-intensive. Constellation has invested in water conservation measures at its Mexican breweries.

On packaging, the company has invested in lightweight glass bottles and recycled content programs. Constellation has set goals for reducing packaging waste across its beer and wine operations. These are company-reported commitments and have not been independently verified through third-party certification.

In its vineyard operations, Constellation promotes sustainable agriculture practices. The company has obtained various certifications for environmental stewardship at specific vineyards. Robert Mondavi Winery and other properties have implemented sustainable farming practices.

Constellation is not a Certified B Corporation. The company does not have Science Based Targets initiative (SBTi) commitments for emissions reduction. The company's sustainability reporting is self-disclosed and should be evaluated as first-party information.

The company faces inherent ethical considerations as an alcoholic beverage producer. Constellation markets its products responsibly and complies with all applicable alcohol beverage regulations. The company has implemented programs to promote responsible drinking and to prevent underage access to its products.

Constellation Brands faces several regulatory and public scrutiny challenges. As an alcoholic beverage company, the company is subject to extensive regulation by the Alcohol and Tobacco Tax and Trade Bureau (TTB), state alcohol control boards, and international regulatory bodies. These regulations govern production, labeling, advertising, distribution, and sale of alcoholic beverages.

The potential for tariffs on Mexican imports is a significant risk. All of Constellation's beer brands are produced in Mexico. Any imposition of tariffs on Mexican goods would directly increase costs for the beer segment. This risk has been highlighted in the company's earnings calls and SEC filings as a material risk factor. The uncertainty surrounding trade policy has affected investor sentiment.

The company faces public health scrutiny related to alcohol consumption. Public health advocates have raised concerns about the marketing of alcoholic beverages, particularly to younger demographics. Constellation, like all alcohol producers, must balance marketing effectiveness with responsible advertising practices.

The dual-class share structure has drawn criticism from some institutional investors and governance advocates who argue that it limits shareholder rights. The Sands family's control through super-voting Class B shares means that public shareholders have limited ability to influence corporate governance through voting.

Constellation's wine and spirits segment has faced challenges from changing consumer preferences. Declining wine consumption, particularly among younger demographics, has led to questions about the long-term viability of the wine portfolio. The company's exploration of strategic options for this segment, including potential divestitures, reflects the ongoing pressure on this business.