1/14/2024 0 Comments Wines similar to cooper and thief![]() ![]() Second-quarter group operating income climbed 10% to $813m. The company is forecasting annual net sales from its wine-and-spirits arm will be at best flat, or, at worst, down 2%. Citing IRI data, Constellation said its “wine portfolio outperformed the total US wine category and gained share”. Second-quarter net sales rose 12% to US$2.66bn, contributing to a 13.7% first-half increase to US$5.41bn.ĭuring the three months to 31 August, the net sales from Constellation’s wine-and-spirits division inched up 1% to $515.8m. The deal was unveiled on the same day as Constellation published its second-quarter and half-year financial results. The Wine Group, which has a stable of brands including Benziger Family Winery, Concannon Vineyard and Franzia, added the purchase meant it moved from being the third-largest wine company in the US in revenue to the second-biggest. Robert Hanson, the president of Constellation’s wine-and-spirits division, said: “A key driver of our success has been our relentless focus on consumer preferences, including long-term, consumer-led, premiumisation trends and remaining agile in our approach to stay ahead of evolving marketplace dynamics.” Those brands include Woodbridge wine and Svedka vodka. ![]() ![]() It added it will continue to invest in what it called its “remaining strategic mainstream wine-and-spirits assets”. The Corona beer maker said the latest disposals were part of a strategy to compete “predominantly in premium and fine wine and craft spirits”. Last year, Constellation offloaded a chunk of its “popular and mainstream” wine and spirits business to US peer E&J Gallo. ![]()
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