USA: Constellation Brands finalizes its acquisition of Grupo Modelo

Victor-based Constellation Brands has finalized its acquisition of Grupo Modelo's U.S. beer business, ynn.com reported on June, 7.

The company announced the completed acquisition from Anheuser-Busch InBev for $4.75 bln.

Constellation Brands is now a fully independent beer competitor in the U.S., with rights to import, market and sell the Modelo brands currently sold by Crown Imports. Constellation will operate as one company with a beer division and a separate wine and spirits division.

The acquisition was put on hold early this year when the Department of Justice filed an anti-trust lawsuit against Anheuser-Busch InBev's proposed acquisition of Grupo Modelo, saying it would ultimately drive the cost of beer up.

10 June, 2013