STZ W&S Biz Still Down, But Focusing on Growth with Two Acquisitions

Dear Client:  Constellation Brands ended its fiscal year with net sales up 2%, buoyed by double digit growth in its beer business. The company's wine and spirits business is still lagging, with net sales down 19% for the fiscal year ended February 28. Excluding the impact of recent divestitures, organic net sales were actually up 9% for wine & spirits "despite the confluence of factors impacting this business in fiscal 2022, including a major distributor transition, migration to SAP, inflationary headwinds,