Constellation Brands

What Constellation Brands does

Constellation Brands, Inc. (NYSE: STZ) is a publicly traded international producer and marketer of alcoholic beverages with operations in the United States, Mexico, New Zealand, and Italy, headquartered in Rochester, New York. The company was founded in 1945 as a regional wine producer and pivoted into a major beverage-alcohol operator following the 2013 acquisition of U.S. rights to Grupo Modelo's beer portfolio, which now drives the bulk of consolidated revenue.

The business operates three segments: (1) a Beer Division built around exclusive perpetual U.S. import, marketing, and sales rights to Corona, Modelo Especial, Pacifico, Victoria, and the Modelo Chelada family, generating approximately $10.0B in net sales and over 75% of company revenue; (2) a Wine & Spirits Division comprising premium and fine wine brands including Robert Mondavi Winery, The Prisoner Wine Company, Kim Crawford, Schrader, To Kalon Vineyard Company, Sea Smoke, Lingua Franca, Ruffino, Casa Noble Tequila, High West Whiskey, Austin Cocktails, and Nelson's Green Brier; and (3) an emerging non-alcoholic portfolio anchored by the recently fully acquired Hop Wtr brand and Corona Non-Alcoholic.

Revenue is generated through wholesale/distributor channels for beer and most wine/spirits volumes, supplemented by direct-to-consumer channels (tasting rooms, wine clubs, and e-commerce) where DTC wine sales grew 15%. The company monetizes primarily through branded CPG volume sales at retail and on-premise; consumer pricing is set at the channel level. Capital structure is supported by recurring senior-notes issuances (most recently $500M of 4.850% notes due 2031 issued May 2026), free cash flow of $1.79B in FY26, a 2.93% dividend yield, and $999M in FY25 share buybacks. Leadership transitioned in April 2026 when Nicholas Fink succeeded Bill Newlands as CEO.

Name

Constellation Brands

Legal name

Constellation Brands, Inc.

Website

https://cbrands.com

Company type

Public

Founded year

1945

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Constellation Brands is a publicly traded international producer and marketer of beer, wine, and spirits, best known for holding exclusive perpetual U.S. import rights to Corona and Modelo and operating premium wine and spirits brands globally.

Ownership category

akta.pro rank

Product category

Alcoholic Beverages

NAICS

Beverage Manufacturing (3121), Breweries (31212), Wineries (312130), Wine and Distilled Alcoholic Beverage Merchant Wholesalers (42482)

SIC

Beverages (2080), Malt Beverages (2082), Wholesale-Beer, Wine & Distilled Alcoholic Beverages (5180)

akta.pro primary industry

Alcoholic Beverage Brand Owners & Holding Companies (Multi-category Portfolios) (CRADAIAL)

akta.pro secondary industries

Beer Brewing & Brands (CRADAIAA), Wine & Sparkling Wine Wineries & Brands (CRADAIAB), Spirits Distilling & Brands (CRADAIAC), Alcohol Subscription & Wine Clubs (Retail) (CRANABAF)

Keywords

• Alcoholic beverages
• Premium beer brands
• Fine wine portfolio
• Craft spirits production
• Imported beverage distribution

Headquarters

HQ city

Victor

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Marketing or Sales, Personnel, Operations, Technology or R&D

Revenue model

1. Beer Segment: Constellation's dominant revenue driver with $10.0 billion in net sales representing over 75% of total company revenue. The segment includes imported Mexican beer brands Corona and Modelo, Pacifico, Victoria, and Modelo Cheladas. The segment showed 7.5% depletion growth in Q4 fiscal 2025.
2. Wine Segment: Premium wine portfolio including The Prisoner Wine Company, Robert Mondavi Winery, Kim Crawford, Schrader Cellars, and Lingua Franca. Direct-to-consumer sales grew 15%, though overall wine demand has softened.
3. Spirits Segment: Craft spirits brands including Casa Noble Tequila and High West Whiskey, positioned within the premium spirits category.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

Constellation Brands is an international producer and marketer of beer, wine, and spirits, operating across the U.S., Mexico, New Zealand, and Italy. Its portfolio includes premium imported beer brands (Corona, Modelo Especial, Pacifico, Victoria), a fine wine portfolio (Robert Mondavi Winery, The Prisoner Wine Company, Kim Crawford, Sea Smoke, Schrader, Ruffino), and craft spirits (Casa Noble Tequila, High West Whiskey, Austin Cocktails). The company also markets non-alcoholic sparkling water under the Hop Wtr brand.

Product overview

Constellation Brands is a leading international producer and marketer of beer, wine, and spirits operating in the U.S., Mexico, New Zealand, and Italy. The company's product portfolio comprises three main segments: (1) High-end imported beer brands anchored by Corona Extra, Modelo Especial, and the Modelo Chelada family, plus Pacifico and Victoria; (2) Fine wine brands including The Prisoner Wine Company, Robert Mondavi Winery, Kim Crawford, Schrader, Sea Smoke, To Kalon Vineyard Company, Lingua Franca, and Ruffino; and (3) Craft spirits brands including Casa Noble Tequila and High West Whiskey, plus Austin Cocktails. The company also operates an expanding non-alcoholic beverage portfolio through brands like Corona Non-Alcoholic and the acquired Hop Wtr brand.

Differentiator

Problem solved

Functional benefit

Brands

• Corona: Flagship imported Mexican lager brand family including Corona Extra, Corona Light, Corona Premier, Corona Familiar, Corona Non-Alcoholic, and Corona Sunbrew. Corona Extra is the #1 most loved beer brand in America.
• Modelo
• Pacifico
• Victoria
• Robert Mondavi Winery
• The Prisoner Wine Company
• Kim Crawford
• Casa Noble
• High West Whiskey
• Ruffino
• Schrader
• Lingua Franca
• Booker
• To Kalon Vineyard Company
• Sea Smoke
• Mount Veeder Winery
• Double Diamond
• Blindfold
• Saldo
• Harvey & Harriet
• Unshackled
• Drylands
• My Favorite Neighbor
• Domaine Curry
• Hop Wtr
• Mi Campo
• Nelson's Green Brier
• Austin Cocktails

Products and services

• Corona Flagship imported Mexican lager brand family brewed in Mexico and imported to the U.S., positioned as a carefree lifestyle beer with 'La Playa Awaits' messaging. Sold across retail and on-premise channels.
• Modelo High-end imported Mexican beer brand family; Modelo Especial is the top-selling beer by dollar sales in the U.S., part of Constellation's premium import portfolio.
• Corona Premier Premium light imported Mexican beer with 90 calories and 2.6g carbs per 12oz serving, positioned as Official Beer of the U.S. Open golf championship.
• Corona Non-Alcoholic Non-alcoholic variant of Corona beer, part of Constellation's expanding non-alcoholic portfolio to meet consumer demand for moderation.
• Pacifico Imported Mexican beer positioned as a premium option with approximately 15% full-year depletion growth; Official Beer of the Snow League.
• Victoria Mexican beer brand with over 16% depletion growth, part of Constellation's high-end beer portfolio.
• Modelo Chelada Suprema

Quantifiable outcome

• Beer depletion growth of 7.5% in Q4 fiscal 2025
• +2 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Nine partnerships are on record, tiered minor and core.

• McDonald's CorporationminorOthers · 20 May 2026Morgan Flatley, Executive Vice President and Global Chief Marketing Officer at McDonald's Corporation, was elected as a new independent member of Constellation Brands' Board of Directors effective May 20, 2026. Flatley brings over 13 years of experience from PepsiCo where she led marketing for brands including Quaker, Tropicana, Gatorade, and Naked Juice.
• Hop WtrminorStrategic or Co-development Partner · 27 March 2026Constellation Brands acquired full ownership of Hop Wtr, a non-alcoholic sparkling water brand crafted with hops, adaptogens, and nootropics. Hop Wtr was first invested in five years ago (2021) and was part of Constellation's venture portfolio. The transaction closed in early April 2026, strengthening Constellation's portfolio in the fast-growing non-alcoholic segment which saw 22% sales increase in 2025.
• Inter Miami CFcoreGTM or Marketing PartnerModelo is the official beer of Inter Miami CF as part of its largest soccer media investment to date. This partnership is part of Modelo's 'Best Seat in the House' campaign for the 2026 World Cup.
• Atlanta United FCcoreGTM or Marketing PartnerModelo is the official beer of Atlanta United FC, one of several MLS partnerships as part of Modelo's World Cup 2026 marketing strategy.
• LAFCcoreGTM or Marketing PartnerModelo is the official beer of LAFC (Los Angeles Football Club), part of the brand's multi-platform soccer investment strategy.
• Miami Freedom ParkcoreStrategic or Co-development PartnerModelo is the founding partner of Miami Freedom Park, a strategic partnership positioning the brand in a key market ahead of the 2026 World Cup.
• USGA (United States Golf Association)coreGTM or Marketing PartnerCorona Premier is the Official Beer of the U.S. Open golf championship, bringing exclusive fan experiences and branded on-course activations.
• American Century ChampionshipcoreGTM or Marketing PartnerCorona Premier is the Official Light Cerveza of the American Century Championship (ACC), with fan experiences at the 7th hole tee box.
• GolfNowminorGTM or Marketing PartnerCorona Premier partnership with GolfNow, the world's largest online tee time marketplace, connecting with golf fans through digital booking platforms.

Scale indicators10 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• E. & J. Gallo Winery: Largest U.S. wine producer and a private competitor across price tiers; directly competes in mass and premium U.S. wine with comparable route-to-consumer strategy, including growing DTC and wine club presence.
• Campari Group: Global spirits portfolio owner (Aperol, Campari, Wild Turkey); comparable mid-sized multi-brand spirits strategy with U.S. distribution focus, particularly in tequila and whiskey categories where Constellation competes with Casa Noble and High West.
• Molson Coors Beverage Company: Major North American brewer with Coors, Miller Lite, and growing import/craft portfolio; competes directly with Constellation in the U.S. beer aisle and shares similar wholesale distribution model. Comparable on volume scale, margin profile, and category mix.
• The Boston Beer Company: U.S. craft beer and hard beverage competitor (Samuel Adams, Truly, Twisted Tea); competing for premium import and craft occasions with overlapping distribution and consumer segments. Smaller scale but highly comparable business model in U.S. beer/cider/seltzer.
• Brown-Forman: Large U.S. spirits producer (Jack Daniel's, Woodford Reserve); directly comparable on premium spirits portfolio strategy, route-to-market, and consumer-demographic overlap with Constellation's Casa Noble and High West. Similar scale, margin, and DTC dynamics in spirits.
• Treasury Wine Estates: Global wine producer (Penfolds, Beringer, 19 Crimes); highly comparable premium and luxury wine portfolio structure with U.S. and Australia operations. Constellation's Wine & Spirits president previously ran Treasury, underscoring operational comparability.

Broad incumbents

• Heineken: Global brewer with strong U.S. presence (Heineken, Dos Equis) and a leading non-alcoholic platform (Heineken 0.0); direct overlap in imported premium beer and a benchmark for Constellation's non-alcoholic expansion strategy post-Hop Wtr.
• Anheuser-Busch InBev: World's largest brewer and parent of Grupo Modelo; Constellation's U.S. import license counterparty and the dominant global competitor to Corona/Modelo in the U.S. high-end beer segment. Most directly comparable peer on beer volumes and brand-building capabilities.
• Diageo: World's largest spirits company and a major player in premium wine (Sterling, Beaulieu Vineyard via prior divestitures); broad portfolio incumbent overlapping with Constellation's craft spirits and wine segments, with similar premiumization focus.
• Pernod Ricard: Global spirits and wine conglomerate (Jameson, Absolut, Chivas) with comparable premium portfolio strategy and U.S. distribution muscle; comparable on multi-category brand ownership and premium positioning across beer/wine/spirits adjacencies.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/constellation-brands
• Instagraminstagram.com/constellationbrands
• Xx.com/cbrandscareers

Compliance10 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries7 records

Funding overview

Funding rounds4 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A25 records

Investments7 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Constellation Brands