USA | Constellation Brands has pulled the plug on craft beer. The third-ranking US brewer disposed of its two remaining craft breweries – Florida’s Funky Buddha and Texas’ Four Corners – to their respective founders in May.
USA | The rapper and businessman Sean Combs - also known as Diddy – is suing spirits firm Diageo for racism. He says Diageo undermined their joint venture by typecasting Ciroc vodka and DeLeon tequila as “Black brands” meant only for “urban” customers.
Brazil | Weighed down by a mountain of debt, Brazil’s third-ranking brewer, Petropolis, at the end of May, asked its creditors for discounts of up to 70 percent on some of its debts. It also offered to sell assets from its operation in the energy sector to generate cash. Two months previously, Petropolis had been granted a court-supervised reorganisation to avert insolvency.
USA | Michigan’s largest craft brewer, Founders, closed its Detroit taproom for good - making the announcement on 1 May and just hours after a former worker filed a new racial discrimination complaint against the company.
USA | After the transgender activist Dylan Mulvaney promoted the beer on Instagram on 1 April, well-known American conservatives called for a boycott. Two executives at Anheuser-Busch, a unit of AB-InBev, have since taken a leave of absence.
USA | Craft beer production remained flat in 2022 in volume and market share, the Brewers Association (BA) reported in April. Small and independent brewers, which are represented by the BA, collectively produced 24.3 million barrels (28.5 million hl) beer, on par with 2021’s volume of 24.8 million barrels.
Brazil | A bidding that will determine, who will become the official beer sponsor of Oktoberfest Blumenau, had to be repeated after Heineken contested AmBev’s win. The contract is to run from 2023 until 2029.
USA | What more evidence do we need that corporate craft beer brands are struggling? Constellation Brands recorded an impairment charge of USD 66.5 million pertaining to what is left of its craft beer division in its fiscal year 2023 fourth quarter. This was reported by the website brewbound.com on 12 April.
USA | In a case that revolved around the definition of “beer”, a federal jury ruled that the third-ranking US brewer, Constellation Brands, can continue to sell Corona and Modelo hard seltzers in the United States.
Brazil | Before its investors have nervous fit over Heineken being put on a blacklist in Brazil, the Dutch brewer issued a statement saying that it is not experiencing a boycott.