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Constellation Brands, Inc.

Beverage AlcoholFounded 1945
Reviewed by Swet Parvadiya
Company data updated: October 2026

Acquisitions

Constellation Brands Acquisitions

5

Major Deals Covered

$7.5B

Disclosed Deal Value

What are Constellation Brands's biggest acquisitions?

Constellation Brands's largest disclosed acquisition here is Grupo Modelo U.S. Beer Business for $4.8B in 2013. This page covers 5 major deals from 1993 to 2016, each with its price where disclosed and the reason behind it.

Major deals covered
5
Largest deal
Grupo Modelo U.S. Beer Business ($4.8B)
First deal
1993
Most recent
2016
CompanyYearPricePurpose
Grupo Modelo U.S. Beer Business2013$4.8BConstellation acquired Grupo Modelo's U.S. beer business from Anheuser-Busch InBev as part of an antitrust settlement, gaining 100% ownership of Crown Imports, the Nava brewery in Mexico, and exclusive perpetual U.S. rights to Corona and Modelo brands.
Robert Mondavi Corporation2004$1.0BConstellation bought Robert Mondavi in December 2004 (about $1.36 billion including assumed debt) to add premium California wines and accelerate its shift away from value brands.
Barton Incorporated1993$123.0MConstellation acquired Barton to enter distilled spirits and imported beer distribution, including Corona Extra distribution rights.
Ballast Point Brewing2015$1.0BConstellation acquired Ballast Point to enter the high-growth craft beer segment which was expanding at double-digit rates at the time.
Obregon Brewery2016$600.0MConstellation acquired the Obregon brewery from Grupo Modelo to achieve supply independence from the interim supply agreement and gain immediate functioning brewery capacity.
What companies has Constellation Brands bought?
Major acquisitions by Constellation Brands documented here include Grupo Modelo U.S. Beer Business (2013), Ballast Point Brewing (2015), Robert Mondavi Corporation (2004), Obregon Brewery (2016) and Barton Incorporated (1993).
What is Constellation Brands's most recent acquisition?
The most recent Constellation Brands acquisition documented here is Obregon Brewery, in 2016, for $600M.

Obregon Brewery

2016

$600M

Why

Constellation acquired the Obregon brewery from Grupo Modelo to achieve supply independence from the interim supply agreement and gain immediate functioning brewery capacity.

Impact

The acquisition added 4 million hectoliters of production capacity on Mexico's west coast, helping service western U.S. markets and providing flexibility for innovation initiatives.

Outcome

The Obregon acquisition enabled Constellation to become fully independent from Grupo Modelo supply agreements. The brewery has been integrated into Constellation's Mexican production network alongside Nava and the developing Veracruz facility.

Source →

Ballast Point Brewing

2015

$1.0B

Why

Constellation acquired Ballast Point to enter the high-growth craft beer segment which was expanding at double-digit rates at the time.

Impact

Ballast Point was one of the most awarded craft brewers in the U.S. and provided Constellation with a platform in the craft segment.

Outcome

The acquisition proved to be a costly misread of craft beer trends. Growth stalled as the craft segment matured and consumer preferences shifted. Constellation sold Ballast Point in 2019 for a fraction of the $1 billion purchase price, recording a significant loss.

Source →

Grupo Modelo U.S. Beer Business

2013

$4.8B

Why

Constellation acquired Grupo Modelo's U.S. beer business from Anheuser-Busch InBev as part of an antitrust settlement, gaining 100% ownership of Crown Imports, the Nava brewery in Mexico, and exclusive perpetual U.S. rights to Corona and Modelo brands.

Impact

The deal turned Constellation from a wine-led company into a beer-led one. Beer generated $8.315 billion of FY2026 net sales, about 91% of the total, and Modelo Especial became the top U.S. beer by dollar sales in 2023.

Outcome

Widely regarded as one of the best deals in modern beverage history. Constellation has since invested billions more in Mexican brewing capacity, including the 2016 Obregón brewery purchase and ongoing expansions at Nava.

Source →

Robert Mondavi Corporation

2004

$1.0B

Why

Constellation bought Robert Mondavi in December 2004 (about $1.36 billion including assumed debt) to add premium California wines and accelerate its shift away from value brands.

Impact

The acquisition made Constellation the largest fine wine company in the United States, adding the Robert Mondavi Winery, Woodbridge, and Private Selection brands.

Outcome

Robert Mondavi Winery remains in the premium portfolio, while Woodbridge and Robert Mondavi Private Selection were sold to The Wine Group in June 2025. Softening wine demand contributed to about $2.8 billion of FY2025 wine and spirits impairments.

Source →

Barton Incorporated

1993

$123M

Why

Constellation acquired Barton to enter distilled spirits and imported beer distribution, including Corona Extra distribution rights.

Impact

The acquisition doubled the company's size and established the foundation for its future beer business. It brought spirits brands like Fleischmann's and beer distribution capabilities.

Outcome

Barton's beer distribution rights evolved into the Crown Imports joint venture with Grupo Modelo in 2007, which Constellation fully acquired in 2013. The Barton acquisition is regarded as one of the most value-creating deals in the company's history.

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Constellation Brands, Inc.'s Growth & Acquisition Strategy

Under CEO Nick Fink, Constellation's plan centers on consumer focus, its core beer brands and operating efficiency. In beer it is pushing Pacifico and Victoria nationally, extending Modelo into cheladas and flavors, and adding non-alcoholic options such as Corona Sunbrew. In wine and spirits it now keeps only premium brands priced around $15 and above. Capital returns are a major lever: in Q1 FY2027 it returned more than $400 million through buybacks and dividends.

How Constellation Brands, Inc. Makes Money

Constellation makes money by brewing Mexican beer in its own breweries in Mexico (Nava in Coahuila and Obregón in Sonora) and selling it to independent U.S. wholesale distributors under the three-tier system. It holds perpetual, exclusive licenses to Modelo, Corona, Pacifico and Victoria in the U.S. only; Anheuser-Busch InBev owns the brands everywhere else. Beer delivered $8.315 billion of FY2026 net sales. A much smaller wine and spirits segment ($823.8 million in FY2026) sells premium labels such as Robert Mondavi Winery, Kim Crawford, The Prisoner, Ruffino, High West and Casa Noble, mostly priced at $15 and above after the 2025 sale of its mainstream wine brands.

Constellation Brands Acquisitions FAQ

What was the most transformative acquisition in Constellation Brands' corporate history?

The June 2013 acquisition of Grupo Modelo's US beer business and the Nava brewery from Anheuser-Busch InBev for $4.75 billion was the most transformative deal in Constellation's history, securing perpetual US ownership of Modelo, Corona, and Pacifico and creating tens of billions in shareholder value.

Why did Constellation Brands acquire the Robert Mondavi Corporation in 2004?

In December 2004, Constellation acquired Robert Mondavi Corporation for $1.36 billion, adding the well-known Napa Valley winery, Opus One joint venture partnership, Woodbridge, and premier vineyard estates to establish global luxury fine wine credibility.

What was the strategic rationale behind acquiring Meiomi in 2015?

In July 2015, Constellation acquired fast-growing luxury Pinot Noir brand Meiomi from Copper Cane Wines & Provisions for $315 million. Meiomi became one of the most profitable, high-velocity premium wine brands in the United States before Constellation sold it to The Wine Group in June 2025.

How did the acquisition of High West Distillery in 2016 expand craft spirits?

In October 2016, Constellation acquired Park City, Utah-based High West Distillery for approximately $160 million, giving Constellation an award-winning craft American whiskey and bourbon portfolio with a premier mountain lifestyle brand.

Why did Constellation acquire The Prisoner Wine Company in 2016?

In April 2016, Constellation acquired The Prisoner Wine Company for approximately $285 million, capturing the #1 luxury red blend in the US and expanding its direct-to-consumer luxury presence in Napa Valley.

What was the strategic purpose of selling 30+ entry-level wine brands to E. & J. Gallo in 2021?

In January 2021, Constellation closed the sale of approximately 30 low-margin commercial wine and spirits brands (including Clos du Bois, Ravenswood, and Mark West) to E. & J. Gallo Winery for $810 million, completing its strategic pivot to higher-margin premium and fine wine.

What craft spirits investments has Constellation Brands Ventures made?

Constellation Brands Ventures has invested in disruptive craft beverage brands, including minority stakes in Dos Hombres Mezcal (founded by Bryan Cranston and Aaron Paul), Austin Cocktails, Kerr Cellars, and Vivify Beverages.

What criteria guide Constellation's future mergers and acquisitions?

Constellation focuses on disciplined, high-return acquisitions in premium craft spirits (tequila, bourbon), high-end luxury fine wine, and ready-to-drink beverage categories that complement its dominant Mexican beer portfolio.

Does Constellation own Corona?

In the US, yes. When Anheuser-Busch InBev tried to buy Grupo Modelo in 2013, the US government blocked it on antitrust grounds. To save the deal, AB InBev was forced to permanently sell the US rights to Corona and Modelo to Constellation for $4.75 billion—the greatest deal in Constellation's history.

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Content is for informational purposes only. Not financial advice. Data sourced from SEC filings, annual reports, and public records. See our full disclaimer and methodology.