Constellation Brands Announces Agreement to Acquire Non-Alcoholic Brand HOPWTR

Constellation invested in HOPWTR in 2021 through the company's venture capital group

Rochester, N.Y., March 27, 2026 - Constellation Brands, Inc. (NYSE: STZ), a leading beverage alcohol company, announced today the signing of an agreement to acquire the remaining interest in HOPWTR - a fast-growing, premium non-alcoholic brand crafted with hops, adaptogens, and nootropics. The transaction is subject to the satisfaction of certain closing conditions and is expected to close in early April 2026.

• HOPWTR has been part of Constellation's Venture portfolio since 2021.
  
• The non-alcoholic segment is one of the fastest-growing categories in beer, with dollar sales increasing by 22% in 2025.¹
  
• The acquisition of HOPWTR aligns with Constellation's commitment to meeting evolving consumer preferences.

Message from HOPWTR Founder and CEO
"My team and I look forward to taking this next step with Constellation and benefiting further from the company's deep industry expertise and commitment to driving premium, consumer-driven brands," said Jordan Bass, founder and CEO of HOPWTR. "I'm confident this will help us keep the momentum going and am excited to work together on the next phase of growth."

About HOPWTR
HOPWTR is a non-alcoholic, calorie-free sparkling water crafted with hops, adaptogens, and nootropics to provide a balance of functional benefits and refreshing flavor that appeals to consumers seeking premium moderation and betterment options. The brand was founded in 2020 by Jordan Bass and Nick Taranto, who set out to build a calorie-free beer-alternative that still offered a functional benefit beyond what many sparkling waters and non-alcoholic beers deliver today. HOPWTR is currently sold throughout the United States through major retailers, grocers and specialty stores.

Message from Constellation's Beer Division President
"Since our initial venture investment in HOPWTR in 2021, we've worked closely with the team to help shape the brand's long-term strategic direction," said Jim Sabia, President of Constellation's Beer Division and Executive Vice President. "With the nonalcoholic segment becoming one of the fastest growing areas of total beverage alcohol, HOPWTR is a natural addition to our no- and low-alcohol portfolio."

FAQ

Why did Constellation sign a letter of agreement to acquire HOPWTR?

• Constellation first made a venture investment in HOPWTR in 2021.
• As a high-end, differentiated offering, HOPWTR is well positioned to meet the needs of today's evolving consumer preferences aligned to moderation and betterment.

How will this acquisition affect HOPWTR's operations?

• HOPWTR team members, including CEO Jordan Bass, will join Constellation, and will continue to play an important role in shaping the brand's future.
  
• In the near-term, HOPWTR will continue to be manufactured, sold and distributed as it is today.
  

What other low- and non-alcoholic brands are in Constellation's portfolio?

¹ Circana MULO+C+ Calendar Year 2025
ABOUT CONSTELLATION BRANDS
Constellation Brands (NYSE: STZ) is a leading international producer and marketer of beer, wine, and spirits with operations in the U.S., Mexico, New Zealand, and Italy. Our mission is to build brands that people love because we believe elevating human connections is Worth Reaching For. It's worth our dedication, hard work, and calculated risks to anticipate market trends and deliver for our consumers, shareholders, employees, and industry.

This dedication is what has driven us to become one of the fastest-growing, large CPG companies in the U.S. at retail, and it drives our pursuit to deliver what's next. Every day, people reach for brands from our high-end, imported beer portfolio anchored by the iconic Corona Extra and Modelo Especial, a flavorful lineup of Modelo Cheladas, and favorites like Pacifico, and Victoria; our exceptional wine brands including The Prisoner Wine Company, Robert Mondavi Winery, Kim Crawford, Schrader Cellars, and Lingua Franca; and our craft spirits brands such as Casa Noble Tequila and High West Whiskey.

As an agriculture-based company, we strive to operate in a way that is sustainable and responsible. Our ESG strategy is embedded into our business and we focus on serving as good stewards of the environment, investing in our communities, and promoting responsible beverage alcohol consumption. We believe these aspirations in support of our longer-term business strategy allow us to contribute to a future that is truly Worth Reaching For.

FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements. All statements other than statements of historical fact are forward-looking statements. The word "expect" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These statements may relate to business strategy, future operations, prospects, plans, and objectives of management, including the expected timetable for and anticipated closing of the transaction, the satisfaction of certain closing conditions, expected benefits of the transaction, and anticipated momentum and growth of HOPWTR, as well as information concerning expected actions of third parties.

All forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those set forth in, or implied by, such forward-looking statements. The forward-looking statements are based on management's current expectations and should not be construed in any manner as a guarantee that any of the events anticipated by the forward-looking statements will in fact occur or will occur on the timetable contemplated hereby.

All forward-looking statements speak only as of the date of this news release and Constellation does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. In addition to risks and uncertainties associated with ordinary business operations, the forward-looking statements contained in this news release are subject to other risks and uncertainties, including the accuracy of all projections, and other factors and uncertainties disclosed from time-to-time in Constellation Brands' filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended February 28, 2025, which could cause actual future performance to differ from current expectations.

MEDIA CONTACTS
Amy Martin 585-678-7141 / [email protected]

INVESTOR RELATIONS CONTACTS
Blair Veenema 585-284-4433 / [email protected]
Snehal Shah 847-385-4940 / [email protected]
David Paccapaniccia 585-282-7227 / [email protected]