Like the U.S.S. Constellation, an elegant 19th-century wood-hulled warship moored in the nearby harbor, the old investment firm was once written off as a relic.
"The economics of wine are supply-driven, " says John Grant, president of Hardy Wine, a division of the U.S.' Constellation Brands.
"The economics of wine are supply-driven, " says John Grant, president of Hardy Wine, a division of the U.S.' Constellation Brands (nyse: STZ - news - people ).
Nor as cheap as U.S. wine and beer giant Constellation Brands ( STZ).
Recent offerings include Smashed Grapes and Monkey Bay from Constellation Wines U.S., a division of publicly held Constellation Brands.
Constellation argues that the AB InBev and Modelo deal would increase competition in the U.S. by ultimately giving Constellation greater control over Corona and other brands.
Recent offerings include Smashed Grapes and Monkey Bay from Constellation Wines U.S., a division of publicly held Constellation Brands (nyse: STZ - news - people ).
The transaction would be a "significant milestone" and a "transformational step" giving Constellation a solid place in the U.S. beer market, said Constellation CEO Rob Sands in a conference call with investors Thursday.
"We believe this revised agreement addresses all of the concerns raised by the U.S. Department of Justice in its lawsuit, leaving no doubt about Constellation's Crown beer division's complete independence and ability to compete, " AB InBev said in a statement released Thursday.
Crown, the distributor of Corona in the U.S., represents a critical income stream for Constellation.
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Returning home from a trip to that continent, Rapp contacted a larger beverage company in Rochester, Constellation Brands (formerly Canandaigua Brands), about helping him secure the U.S. license for DNA. The publicly held Constellation put up an undisclosed amount of cash last year in exchange for 30% of DNA's profit.
Although Modelo owns Corona and other brands, those beers are distributed in the U.S. through Crown, which is a joint venture of Modelo and Constellation.
The U.S. might keep outperforming, says Sam Katzman, chief investment officer at Constellation Wealth Advisors in New York.
This missile system, when operational and combined with China's developing over-the-horizon radar network and its new constellation of imaging and radar satellites designed to locate U.S. ships at great distances, will make for a potent weapon system.
The application ultimately led to the creation of GPS, a constellation of two-dozen satellites developed and maintained by the U.S. Department of Defense.
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