Constellation W&S Biz on its Way to Mid-Single-Digit Growth + 30% Margin

Dear Client:   Constellation Brands cfo Garth Hankinson took the virtual stage today at the Morgan Stanley Virtual Global Consumer & Retail Conference. Perhaps not surprisingly, wine and spirits took a backseat to beer and hard seltzer during the session-- as beer continues to be the largest (and more profitable) section of the business. And once the Gallo transaction is closed, Garth said the wine and spirits business will be a "really good complement to our beer business." A POST