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News Breaks | | | | July 1, 2010 | | 07:34 EDT |  | STZ | Constellation Brands sees FY11 free cash flow $350M-$400M
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News For STZ From The Last 14 Days Check below for free stories on STZ the last two weeks. |
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| June 7, 2013 | | 16:07 EDT |  | STZ | Constellation completes acquisition of Grupo Modelo's U.S. beer business
Constellation Brands (STZ) announced that it has completed its acquisition of Grupo Modelo's U.S. beer business from Anheuser-Busch InBev (BUD) for approximately $4.75B. The transaction includes full ownership of Crown Imports LLC which provides Constellation with complete, independent control of all aspects of the U.S. commercial business; a state-of-the-art brewery in Nava, Mexico; exclusive perpetual brand license in the U.S. to import, market and sell Corona and the Modelo brands Crown currently sells and the freedom to develop brand extensions and innovations for the U.S. market. With the close of the acquisition, Constellation begins to operate as one company with two divisions: a beer division and a wine and spirits division. A brewery operations group has also been established to manage the expansion and integration of the Nava brewery. Constellation plans to invest $500M-$600M during the next three years to expand the facility to double its current capacity to meet projected demand for products in the U.S. | |
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