Constellation Brands is now officially into the Mexican beer business in a big way.
The Victor based company says it has completed its acquisition of the U.S. beer business that had been part of Grupo Modelo, a Mexican beer company. The purchase price was $4.75 billion.
The deal gives Constellation ownership of Crown Imports, which includes popular Mexican beers like Corona Extra and Corona Light, as well as Tsingtao from China.
With the closing of this deal, Constellation begins to operate as one company with two divisions, a beer division and a wine and spirits division.
The company also plans to invest as much as $600 million during the next three years to expand the capacity of the Mexican brewery that it is acquiring.