Constellation Closing Deal to Buy Corona

Now that AB InBev is the proud owner of Mexico’s Grupo Modelo (thanks to a $20.1 billion changing of hands), Constellation Brands is getting to add InBev’s US distribution rights for Corona and other Mexican beers for $5.3 billion, the Wall Street Journal reports.

The transaction, set to close Friday, will make Constellation America’s third-largest beer supplier. With this purchase, “company revenue will double to more than $5 billion, half of it flowing from beer,” the Journal notes.

While mainstream domestic beers like Budweiser and Miller are struggling, imports are doing well, particularly those from Mexico. Five of the top 10 imports came from Mexico last year.Continue reading...

Bacardi Oakheart: Spiced Rum for the Strong of Character

Bacardi is hoping "Oak and Coke" will be a drink order heard across the globe as it launches its new Bacardi Oakheart, a spiced rum with a “distinctly masculine, smoky edge” aimed at the young male market. The launch will be supported in the U.S. by the “Oakheart Challenge,” a series of events and competitions, presumably for distinctly masculine men. Apparently, 2,700 names were considered before Bacardi settled on “Oakheart,” which refers to the barrels in which the rum is aged and has overtones implying "strength of character.” Manly men, get ready: Bacardi Oakheart will be available in the U.S. in September.Continue reading...