Constellation Brands, the world's largest wine company, headquartered in Victor, may soon own and operate a brewery in Mexico.
The U.S. Justice Department last month sued to block the deal in which Anheuser-Busch InBev, makers of Budweiser, Bud Light and other brands, would buy complete control of Mexican brewing giant Grupo Modelo, the maker of Corona, among other beers. A-B Inbev already owns 50 percent of Modelo.
The Justice Department's suit claimed the takeover would create a beer company so large it would violate anti-trust laws and could lead to higher beer prices for consumers.
To address the anti-trust complaint, A-B InBev now proposes to sell the brewery that makes Corona to Constellation, along with right to sell the brands in the United States. A-B InBev would retain other pieces of Grupo Modelo.
Constellation Brands, formerly known as Canandaigua Wine Co., is the word's largest wine company. Constellation share prices rose today on the latest news, after having dipped when the lawsuit was filed.
