Constellation CFO Tackles the Hot Topics: Tariffs and M&A 

Dear Client:  Constellation CFO Garth Hankinson presented at the Morgan Stanley conference yesterday. His first question was not about divesting Svedka to Sazerac, as was the news of the day. It was about Constellation Beer’s response to Trump’s threatened 25% tariffs on Mexican (and Canadian) imports.   Garth started by pointing out Constellation’s “material impact” in the U.S, despite the fact that they import their beer from Mexico, and their “History of relationship building” in administrations on both sides of the