Investment Thesis
Constellation Brands owns premium beer, wine, and spirits brands including Modelo, Corona, and high-end wines. U.S. beer portfolio drives majority of growth, while wine/spirits are being premiumized.
- Beer Leadership: Modelo Especial and Corona Extra gain share among imports.
- Premiumization: High-end wine/spirits portfolio focuses on growth segments.
- Capital Allocation: Cash flow funds capex, M&A, and dividends/buybacks.