Corona, Modelo raising beer prices over glass shortage, inflation
Corona, Modelo raising beer prices over glass shortage, inflation
By Tiffany Kary | Bloomberg
Constellation Brands, the maker of alcoholic drinks including Corona and Modelo, said it expects to hike beer prices more than its typical 1% to 2% this coming year due to rising commodity costs and a shortage of brown glass.
Chief Financial Officer Garth Hankinson said on the company’s third-quarter earnings call Thursday that margins in the core beer business may…