welcome fiscal morning, year-end Thank 'XX Good you, Patty. to our and call.
of I this Before brings to the to that the Special the its accrue structure. Board share as to and announcement relating comment will significant reached from class investors market is Committee earlier like shareholders, consideration declassify structures. the and on . the I'd explicitly to the this to proposal Committee Sands our family's Sands family prefer family will filing, Directors. the increasing Board week dual proposal with started of made including company benefits approval our Special by that morning, be Constellation's well the The who the get under of of According Directors, and negotiated agreement proposal single-class demand from any full require will as
the majority that by of proposal stock. reached, definitive family until connection our the let's not not with Class proposal the transaction. corporate With approval is any deemed advisable not require for in with 'XX. proposal the of on excellent A the and disclosure also is hold that a Constellation fiscal to intend does common otherwise In agreement was common Sands of stock unless and abandoned the proposal, do in addition, that, with terms Class the to Sands of holders B like everyone a results to of our a would guidance our remind made the or of public I'd our shares it family. discussion connection further comment proceed pursuant further
performance our strong As to and team how on deliver I organic extremely year double-digit reflect of our generation. of 'XX, fiscal flow pulled for together proud sales a net I'm growth cash
in inflation, challenges, through accomplished this events, weather X surrounding of rising consumer Through issues it preferences are invest year and that host who in brands stayed we to we people a consumer-led adverse consumers various the on Our rapidly innovation needed environment. while future the supply our team battling our win shifting other chain to and while capabilities true all, long term. continuing pandemic, and including love. of laser focused to launched We building remain
stakeholders impact to We and positive communities our shareholders serve to to value making the return continued on a the and our interest all of on commitments deliver by to environment.
fiscal part to watersheds what of billion takeaways X to to we of new environmental gas our announced key backdrop, by disadvantaged in our as withdrawals reduce up gallons that our fiscal morning we communities this ongoing water are believe and as new 'XX from 'XX. fiscal restore case each into targets a we improved year. frame XX% I'd like earlier we by operate head fact, In from performance in our 'XX to fiscal emissions critical in accessibility With water where as commitment by greenhouse stewardship, and
Beer to its volume of headlined by growth. continues First, business, our delivered our strong year which XXth be performance overall consecutive
million XX across sales supplier market. net Modelo share led high-end position by gainer and portfolio growth, the #X cases U.S. and its of extending and growth beer high-end Corona brand posted beer families the of beer #X our as added Our leadership XX% the
our margin improvement Spirits the Second, Wine net for year. fiscal sales X% gross & solid business organic growth and of delivered strong
focus to high-end yield continue Our premiumization Kim on & as the the Wine in and & U.S. category outpaced consumer-led primarily brands Spirits enhanced Meiomi Spirits our Crawford, driven overall by Wine benefits Prisoner.
billion to in shareholders repurchases in 'XX. capital and returning our dividends share continue stated we strategy, Third, against form to of execute allocation the nearly fiscal $X
million billion morning's us announcement goal. We bring share demonstrate completed, commitment of this which, our about continue to $X $XXX program, repurchase accelerated of this will with a to when XX%
and nice springboard 'XX in make year business fiscal another ahead. successful to in continue Our our strong core continued for the investments we a performance provide
year, and Now the assumed years the has Jim our we of been ahead. 'XX our into year business role -- outlook of one our of business has beer beer let's our One deeper Sabia dive for been that Earlier strength success over our leadership. this business. the a outlook continuity hallmark of announced in our of performance President and success little the
driven our growth of the our our Veracruz. XX beer our of succeeds with Nava and as a brewery to operations success you traction on well our many to to gains overall seltzers, prospects. strong than force in segment the alcohol beer for population As industry growth the know, segment. as per behind in growth beverages Jim is beer continue expected continuing category, has who beer, beer on our exhibiting portfolio our the under wavered taking construction spirits, based work year the his including growth the and momentum new flavored malt ongoing segment categories more to segment. been success There the the I in on-premise in of the X% trends future fiscal remain flavors The Premiumization to has Significant continue will economy, from in beer to to provide continue driver category will with X% brewery several beer revenue recover beer further influenced Paul RTD look projects with all and portfolio, expected key projected are to e-commerce is high-performing in solid team played drive Jim incremental a with with the Hetterich, beverage building expectations. And our many category driving in that of and capita of sticky finally, rest platform is years, significantly. Obregon we Jim state high-end and leadership. beer to a years. accelerate growing including stable to by for digitally Constellation of to expected and for primarily of in rebounded beer key have traditional forward are continue share our share the are work annually the proven and to drive Total support of X-tier Mexico business imports, a growth for role growth. with in to has the continue look about business be sales servings portfolio ahead. to forward 'XX. Mexican Paul of Paul, to growth projected mainstream team
win. where to work demographic of our investing relative aligns forecasted strengths trends, more the In Hispanic either fact, is capabilities growth this with needed Each fully of combined deliver to these build that core with to areas or our we're favor, in other channels. beer business, compete our channel and tailwinds to over-indexed
growth the with industry one efficient portfolios a most highly for in focused We of the ahead. runway have long and
been position have fiscal rebuilt, inventory aggressively 'XX. Our plans we our behind has brands invest and to in
the to has country consumer-led We dollar and single-digit I was these Modelo to the but got high innovation in there's Modelo sales also way. was term XX, consumers, exciting under-indexes the volume penetration, mid- in off-premise. have further new it beer brand is annual XX in consumers over the non-Hispanic group household medium runway but household growth to past wish Especial Especial momentum significant currently drive the some with still years, on significant the awareness gap in the facilitate with order total to penetration. #X to strong opportunity in distribution in X it yet X% close XX%.
XX% increasing X F&B Especial #X penetration space, the Modelo opportunity, the delivers, along draft brand market yet distribution Modelo Extra. contributor the Modelo the priority. only will entire has This the brand incremental of Especial as enable total Modelo beer Especial reference, than brand Modelo on-premise our million the market. access levels distribution. makes Corona the U.S. for category, has velocity is Chelada In household with penetration biggest to our family to national has Especial Chelada more in #X it For the important Corona only We portfolio Extra draft in growth an currently our of consumers. to become believe XX%
Chelada pack flavors. are channel sizes, categories CAGRs in the medium Current and we're levels driven relative from awareness competitors. Modelo Chelada, with double-digit other Modelo distribution to by and large formats new flavor For forecasting low extended term
investments tripled spaces chili Houston. that market Within also and XX-pack sessionable a past additional awareness line an improve of we're broaden of Fresno our test Chelada stay growth accelerate years Modelo to XX% Cerveza extending well and and through an a out consumers. as We're Sal over grew of a new beer into digital fiscal and and light maximizing We product in to with fits new for Mexican that nationwide. X as flavor, the over This Picosa, aiming both our Hispanic markets, a to reach to Oro own growth bring year, In social active connected beer. media Limón TV Modelo low-calorie size to flavor premium, authentic last lighter Naranja cocktail-inspired XX-ounce, we to Chelada styles a we're almost lifestyle. brand 'XX, is full-flavored y X in consumers to market language lineup, for introducing and Chelada expect and favored rolling core is general XX% the has Spanish Modelo Charlotte, orange demographic the flavor. where and beer carbs
product Extra, low-calorie the beverage. and and is the beer be with San mimics Mexican fruit brands Modelo throughout the Diego most Arizona strong one crowd at a of gears. U.S. loved that It's We're Shifting excited juice of Mexican continues Another Cantarito-Style out heritage market. celebrates to the see culture resurgence U.S. and in Cerveza, aimed rolling we Atlanta, the in by popular beer a the Corona which
brand underdeveloped significant younger is to household see fairly some and exist fiscal behind master competitors, currently Corona for competing Extra And still opportunity it a growth still Premier Corona significant Premier, While there brand Extra. has Corona format in format for overindexed in its where the increase still for can Extra Corona the for both effective beer velocity. new rates. cans Distribution are significant packages behind unlock drinkers. light projected also opportunities consumers, grow continue the of for format it family, this And competitors. brand penetration, lags the indicating equity, large preferred as increase are indicates and significant relative while broader trails yet a opportunity to modest higher including also to indicating distribution is a versus that has multicultural high as Premier sizes. gaps and we launch buy with buy rates see experience brands, Corona we brand potential, 'XX, to growth
is in on-premise, embraced consumers Finally, Corona and trend. the that to designed craft have our year Premier focus accelerate this
for brand, and agreement in to will strips points Z Pacifico consumers. unique to ready-to-drink during spirits-based with support to new unique the and our well-loved with key medium market UFC, key and programs portfolio our hottest Pacifico and expand and as state-of-line followed Last as in steel the U.S. upping labels. a the initiatives, numerous create awareness new growth XX% bottled Coca-Cola legal to which by we're of off-premise XX as particularly cities, annual also Midwest in support had a media been national Gen RTD That along trend, announced In cocktails weeks, the Company planned regions the DMAs volume in game digital the NBA we of and closely to draft fast-growing well We've positions age of quarter, to for last and compelling activations, the by will we retail will distribution Pacifico reach increasingly gain our the investment mix using in continue new spirit-based of marketing fiscal West the playoffs customer-specific brand. the distribution brands. accounts growth target to space tequila on Pacifico with as continue FRESCA X alone. well to teams. FRESCA forecasting debut consumer with leverage efficient football collective Paloma supported targeted from We're term the sponsorship college consumers. this NFL, trend For fall total country, markets. prioritizing MLB sponsorship We'll focused be Modelo. of category the in XX% in volume to activate drinking
increase You'll demand. advertising, to Overall, drinkers awareness in consumer and significant new investments programming. see a sustained media and through to digital plan drive localized and investments media we recruit
In last our date. to shopper-first addition, to of our year, adoption our Shopper-First Shelf We gain drive completed results portfolio initiatives and continues by will shelf sets increasing approach, enabled XX,XXX which traction. total highest be
to see, As beer is on to positioned consumer existing leveraging you portfolio sales our medium-term well our of capitalize category our advantages deliver target net and to core by and competitive can trends X%. new platforms brands' compelling growth for X%
to higher-end inflationary this to & sales our segments year. this and fiscal to our higher-end Wine Prisoner challenges, U.S. West. Spirits factors price wine growth Meiomi, and focus business solid X% Company. delivered gross craft our our as spirit including driven Marketplace and portfolio logistics benefits improvement achieved outpace organic Prisoner and major in for Kim growth yielded COVID transition, for on sales the on Company SAP, related to of a migration strong increased by double-digit move And the Despite business and Spirits High continued impacting let's performance driven fine chain Wine 'XX, category Now of our Wine the business. Wine by confluence headwinds and & net brands supply margin overall the distributor net the Crawford primarily
chardonnay Kim produced channels in Heading in Crawford growth the accelerated X margin into high-end Blanch new as extensions, to business. the Sauvignon X from Cabernet premiumization, products focus well last our excellent together X-liter Our held which over among both Illuminate continued coming the innovation Prisoner buttery Woodbridge's our packed Meiomi [Indiscernible] High DTC top 'XX, box. with strategic includes also expansion, Sauvignon, contributions West growth efforts fiscal in ready-to-serve continued and and as slots introduced results commitment international growth years
on Our premiumization, betterment, innovation flavor focused and be sustainability of strategy enhanced digital, consumer trends prevailing will convenience, profiles.
fine planned the Unshackled Crawford, which for top [Indiscernible] Pinot wines. our We Wine and in coming our includes and wine Noir to Red have X pipeline SVEDKA strong [T-Wine cocktails. player combo in portfolio of among Spirits ultra-luxury efforts Kim small Today, to innovation to Meiomi Spritz], launch additions & year, ready-to-serve be ambition with wine Chardonnay and we a Gin, and the complement Constellation's premiumization X the #X icon in Blend, the announced
to We category and Franca. around includes a brand, top diverse regions best with wine building have the collection highly strong fine building portfolio acquired that while acclaimed Oregon X-tier wine wine a business Lingua in DTC This wines demonstrates of world. from leadership eCommerce our the commitment our omnichannel
consumers. and the the distributed depletion Constellation posted the acquired on of portion a Spirits is 'XX trends began also states remaining segment we Ventures rise alcohol founders. focus to strengthens U.S. higher-end Austin beverage focus tighter female our XX RTD success. 'XX in XXXX dynamic business of currently business. Cocktails, as leader positions continue Austin in Cocktails a future among the it in expect We is calendar which be to of Wine in for fiscal popularity It premium A Overall, to and in brand market. & RTD XXX% fast-growing year as strategically growth on
Canopy in Growth. provide I our a on Before thoughts to investment I'd like few wrap,
the achieve and investments continue its We work represents expense encouraged its is cannabis to capital to the and profitability their in record Canopy drove its strengthening products Bickel the Canopy quarterly In and BioSteel rightsize in growth believe performance strategy, product its further maintained a structure operating lines. we're long-term premium & recent most position Storz and market opportunity. Canada flower the share #X while significant that and sharpen in for in results, doing competitive positioning by Canada U.S.
strategic scalable U.S. is footprint, strategy Government another upon I closing, U.S. networks positioned distributors for national TerrAscend, Canadian recent by equivalency year in as and and quantities. our the best-in-class thank to In THC our growth unlock in to our ahead. want required efforts about to by progress profitable cannabis Canopy's the valued to encouraged products federal anchored regulations, performance, to are purchase legalization. market markets. and northeastern strong THC strategy beverages Canopy as both allowing well high-growth which U.S., by their your of We team X in retailers establishing in MSOs, distribution continues again changes the as once just of greater Acreage and beverage with we're And for delivering year prospects are excited in a relationships consumers
iconic extending is business, the end Beer continue in beer innovation, to and the poised our led U.S. of its position consumer-led high Our by market. core brands leadership
of Our on and Spirits producing is previously the committed the end premiumization portfolio have results, $X & focus & higher end on towards our billion to remain 'XX. strategy, and stated in growth Wine in we this. commitment the remain continued I'd ever rankings fiscal with a to further of the performers track being finally, we leave Wine But fiscal over you in top our deliver 'XX. again. very our and focus came allocation capital business by plans Spirits We And to the CPG out seemingly with has for one IRI constant. leaders, recognized environment. Constellation recently was and of remained changing dynamic operate to like annual one its years, yet We thing
financial Garth, as to leader look to we're XX forward we fiscal 'XX. keep with an our to and focus for I our year. fact, Constellation of, thought, our growth our new turn going peer in 'XX more that has something who like this Garth? over and will And over into continuing results financial momentum review That's it would In in to years. set other the company any last than recognized IRI been CPG proud extremely