In early 2013, as a condition of Anheuser-Busch (AB) InBev’s settlement with the U.S. Department of Justice (DOJ) for approval of the Grupo Modelo deal, Constellation Brands (STZ) secured full U.S. commercial rights for leading Mexican beer brands Modelo, Corona, and Pacifico (“our portfolio accounts for over 90% of the Mexican beer imports sold in the U.S.”). Over the next decade, Constellation’s beer segment delivered low double digit annualized revenue growth, led by Modelo: the brand shipped ~200 million cases in FY25, up nearly 5x from the 40 - 45 million shipped in 2013. Along the way, Modelo became the top beer brand in the U.S., passing ABI’s Bud Light.
