Date: 4th April 2019
The Corona beer maker is aiming to
This sale has been in the mind of the firm’s management since February. It now aims to focus on high-end product ranges of beer and cannabis to capture young customers.
The deal is expected to be completed by the end of Q1 of 2020. It majorly includes low-end brands of the company, like Clos du Bois, Ravenswood
The brands to be sold majorly include those which have a price per bottle lower than or equal to $11. This shows the company’s apparent aim to target high-income customers and earn higher profit margins from more expensive brands.
The brewer is to publish its quarterly financials on Thursday. The company sold its Canadian wine business to Ontario Teachers’ Pension Plan back in 2016. This sale was worth C$1.03 billion or USD 772 million.