Constellation Brands, Inc. (NYSE: STZ and STZ.B), a leading
beverage alcohol company, in partnership with Modelo, the beer
brewed for those with The Fighting Spirit™, announced today a
collective $500,000 contribution to UnidosUS, the nation's largest
Latino civil rights and advocacy organization. The contribution
will provide UnidosUS with resources to strengthen Hispanic
families’ financial security through financial empowerment and
homeownership programs.
“One of our focus areas for our Corporate Social Responsibility
strategy is a commitment to serve as a catalyst for economic
development and prosperity for disadvantaged communities,” said
Mike McGrew, Constellation Brands’ Executive Vice President, and
Chief Communications, CSR, and Diversity Officer. “The Hispanic
population is the fastest growing demographic in the U.S., and our
authentic Mexican beer brands have been an integral part of special
moments for members of this community for many years. As an
extension of this shared cultural appreciation and inherent
connection, we are proud to support UnidosUS and are committed to
doing our part to provide resources and support to address systemic
issues preventing a more equitable chance at success for members of
Hispanic communities across the U.S.”
In the last year, the economic downturn brought on by the
COVID-19 pandemic has further highlighted the systemic barriers
that put Hispanic communities at a disadvantage across the U.S. The
median wealth of a Hispanic household is five times lower than that
of a white counterpart (1). And within the last year alone, nearly
60 percent of Hispanic households have reported lower incomes,
which is nearly twice as much as their white counterparts.(2)
Homeownership is a key indicator of financial mobility, and
UnidosUS believes reaching this goal is key to an individual’s
ability to build wealth. Constellation and Modelo’s contributions
will support financial literacy programs by providing funds to the
UnidosUS National Homeownership Network, which has provided more
than 590,000 families with housing counseling. In addition, more
than 30,000 people have been able to buy their own homes and 90,000
families have avoided foreclosure.
“Modelo has a tradition of honoring those who embody the
fighting spirit and show grit, perseverance, and determination in
the face of adversity,” said Greg Gallagher, Vice President, Modelo
Brand Marketing. “We are proud to work with UnidosUS and to help
support their mission to provide our core Hispanic audience with
the necessary resources to build unified, prosperous, and resilient
communities.”
To identify the right programs and organization, Constellation
tapped into its ¡SALUD! business resource group – standing for
Supporting and Attracting Latinos United for Diversity and
Development. The ¡SALUD! team helped to identify financial literacy
and housing empowerment as areas of support that could truly make
long-term impact in the economic development and prosperity of the
Hispanic community and played a role in vetting organizations that
could best deliver impact in these areas.
Through its unique combination of research, advocacy, programs,
and a national network of nearly 300 community-based affiliate
organizations across the country, UnidosUS works to lift the
social, economic, and political barriers that affect Latinos in the
United States. For more information on UnidosUS, visit
www.unidosus.org or follow UnidosUS on Facebook, Instagram, and
Twitter.
(1) Economic indicators Gap: Pew Research
Center analysis of 2020 Current Population Survey Annual Social and
Economic Supplement (IPUMS)(2) Collage Group
Latinum COVID Impact Study April 2020
ABOUT CONSTELLATION BRANDSAt Constellation
Brands (NYSE: STZ and STZ.B), our mission is to build brands that
people love because we believe sharing a toast, unwinding after a
day, celebrating milestones, and helping people connect, are Worth
Reaching For. It’s worth our dedication, hard work, and the bold
calculated risks we take to deliver more for our consumers, trade
partners, shareholders, and communities in which we live and work.
It’s what has made us one of the fastest-growing large CPG
companies in the U.S. at retail, and it drives our pursuit to
deliver what’s next.Today, we are a leading international producer
and marketer of beer, wine, and spirits with operations in the
U.S., Mexico, New Zealand, and Italy. Every day, people reach for
our high-end, iconic imported beer brands such as Corona Extra,
Corona Light, Corona Premier, Modelo Especial, Modelo Negra, and
Pacifico, and our high-quality premium wine and spirits brands,
including the Robert Mondavi brand family, Kim Crawford, Meiomi,
The Prisoner brand family, SVEDKA Vodka, Casa Noble Tequila, and
High West Whiskey.
But we won’t stop here. Our visionary leadership team and
passionate employees from barrel room to boardroom are reaching for
the next level, to explore the boundaries of the beverage alcohol
industry and beyond. Join us in discovering what’s Worth Reaching
For.
To learn more, follow us on Twitter @cbrands and visit
www.cbrands.com.
ABOUT UNIDOS US
UnidosUS, previously known as NCLR (National Council of La
Raza), is the nation’s largest Hispanic civil rights and advocacy
organization. Through its unique combination of expert research,
advocacy, programs, and an Affiliate Network of nearly 300
community-based organizations across the United States and Puerto
Rico, UnidosUS simultaneously challenges the social, economic, and
political barriers that affect Latinos at the national and local
levels. For more than 50 years, UnidosUS has united communities and
different groups seeking common ground through collaboration, and
that share a desire to make our country stronger. For more
information on UnidosUS, visit www.unidosus.org or follow us on
Facebook, Instagram, and Twitter.
ABOUT MODELO®Born in 1925 in the small town of
Tacuba, Mexico, Modelo has been bringing distinctive high-quality
beer to people ever since, including Modelo Especial®, Modelo
Negra®, Modelo Chelada Especial™, Modelo Chelada Tamarindo
Picante™, Modelo Chelada Limón y Sal™ and Modelo Chelada Mango y
Chile™. Modelo Especial is a golden, full-flavored Pilsner-style
Lager with a clean, crisp finish whose original recipe was first
brewed under the vision to create a 'model' beer. As the #1
imported beer in the U.S., Modelo Especial surpassed 100MM cases
sold in 2018. The Modelo family of beers are exclusively brewed,
imported and marketed for the U.S. by Constellations Brands.
MEDIA CONTACTS |
INVESTOR RELATIONS CONTACTS |
Mike McGrew 773-251-4934 /
michael.mcgrew@cbrands.comAmy Martin 585-678-7141 /
amy.martin@cbrands.com |
Patty Yahn-Urlaub 585-678-7483 /
patty.yahn-urlaub@cbrands.comMarisa Pepelea 312-741-2316 /
marisa.pepelea@cbrands.com |
A downloadable PDF copy of this news release can be found
here. http://ml.globenewswire.com/Resource/Download/10589cfd-9f08-4e17-b594-8a006e1fd02f
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