Constellation Brass on the “Real Opportunity” in M&A

Constellation Brands' reported a net sales decrease of 4% in the first quarter f2018 for its wine and spirits business, but that's largely due to the impact of the Canadian wine business sale. Minus the Canadian wine sale, organic sales were up 6%, which is consistent with past growth. While US shipment volumes (sales to distributors) outpaced depletions (sales to retailers). Wine and spirits largely took a backseat to beer in this morning's earnings call, but chief Rob Sands did