Constellation Brands buys beer business for $4.75 billion

Posted at: 06/07/2013 9:10 PM
Updated at: 06/07/2013 9:11 PM

Corona beer and others will now be imported and sold by a local company. Constellation Brands announced it has officially purchased Groupo Modelo's U.S. Beer Business from Anheuser-Busch InBev. The total sale is just under $5 billion.

In addition to Corona, Constellation will import, market and sell Corona Light in the U.S. It will do the same with three additional Mexican beers and one beer from China.

The sales means Constellation will have two operations, a beer division and a wine and spirits division.