Heineken CEO Jean-François Van Boxmeer says the company’s flagship brand cannot directly compete with a craft beer sector that has hogged US beer growth over the past decade.
US and native microbrewers could profit if Mexico’s antitrust regulator rules that controversial exclusivity deals, which benefit local giants Grupo Modelo and Cuauhtemoc Moctezuma, owned by AB InBev and Heineken respectively, are illegal.
CEO ROBERT SANDS EXCITED AT SECURING MODELO 'CROWN JEWEL'
Constellation Brands plans to double of the capacity of its new Piedras Negras brewery in Mexico to 20m hectolitres within three years, and says its ‘transformational’ deal with AB InBev will make it the No.3 US brewer.
ABInBev says it will 'vigorously defend' itself against a new consumer class action seeking to prevent its full $20.1bn buyout of Mexican brewer Grupo Modelo, but admits the suit could halt the deal.
CONSTELLATION BRANDS APPEARS CLEAR WINNER UNDER REVISED DEAL TERMS
Anheuser-Busch InBev (AB InBev) has agreed to sell a massive Grupo Modelo brewery to Constellation Brands as part of a $2.9bn transaction, to defuse a US legal fight over its takeover of the Mexican brewer.
With the US Department of Justice (DOJ) gunning to takedown AB InBev’s $20bn takeover of Grupo Modelo, the firm likely prefers peace talks in the Sheriff’s office to a High Noon-style shootout.
Constellation Brands claims that Mexican brew Modelo Especial is now the ‘hottest’ beer brand in the US, and CEO Robert Sands says he expects it to become the next Corona.
This week, Diageo heads to the court over new taxing measures in
California, a major US roadway is closed over beer-induced chaos
and InBev expresses its concerns to potential takeover target
Anheuseur-Busch.