The long-rumored deals officially closed onFriday, October 19, according to Constellation spokeswoman Jamie Stein. A spokesperson for the Reyes Beverage Group declined to comment on the acquisitions. Constellation is also reportedly attempting to force Ace Beverage to sell its distribution rights to Reyes.
What happened to Ace Beverage?
The world’s largest beer manufacturer today said it struck an agreement to acquire the assets of Ace Beverage in Los Angeles, just two weeks after agreeing to sell off its distribution operations in Colorado to Eagle Rock Distributing Company in Georgia.
Will Monster Beverage and Constellation Brands merge?
Click on the conversation bubble to join the conversation Got it! When it was announced last month that Monster Beverage was acquiring the CANarchy Craft Collective for $330 million, most thought that that meant that their possible merger with Constellation Brands was off the table.
Is Constellation Brands a good investment?
Constellation has been on quite a tear in the market as their beer brands Corona Extra and Modelo Especial continue to gain market share. Those are on top of their powerful wine and spirit catalogs filled with well-known brands like Kim Crawford and Meiomi wines and Svedka vodka and Casa Nobel tequila.
Why would Monster Energy Drink be interested in Red Bull?
Monster, one of the leaders in the lucrative and booming energy drink market, held a 39% share of the $5.7 billion US market in 2020, second only to Red Bull, would bring an attractive distribution network and a steady revenue stream to the deal.