Constellation Buys Corona

 

After closing a $5.3 billion dollar deal with Anheuser-Busch InBev, Constellation Brands (NYSE:STZ) is going to become the third largest beer supplier in the United States.

Constellation is purchasing the rights to Corona, which is the country’s biggest import as well as the Mexican brewery that produced Corona and some other brands, but being a larger beer company is not necessarily good.

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People are drinking less Coronas and becoming more interested in microbrews from all around the country. Craft beers are taking off as their sales rose 15 percent in past year although the industry grew by less than one percent, says the Brewers Association. In fact, craft beers now control 6.5 percent of the U.S. beer market by volume and 10 percent by revenue.