Constellations Brands (NYSE:STZ) announces it acquired Obregon Brewery from Grupo Modelo for $600M.
The deal has to be approved by the DOJ before closing.
The plant located in Mexico is expected to have 4M hectoliters of production capacity with minimal investment.
«We believe this is the right strategy to provide near-term capacity and greater flexibility to support our growth and innovation plans, while allowing for the buildout of our Mexicali brewery over an extended time period,» says Constellation CEO Rob Sands.
Grupo Modelo is a subsidiary of Anheuser-Busch InBev (NYSE:BUD).
STZ +1.12% premarket to $167.88.
Fuente: Seeking Alpha
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