Constellation Brands and Modelo Partner to Help Empower Hispanics to Achieve the American Dream Through $500,000 Contribution to UnidosUS
Constellation Brands (NYSE: STZ, STZ.B) has partnered with Modelo to donate $500,000 to UnidosUS, aimed at enhancing financial security for Hispanic families through empowerment and homeownership initiatives. This donation highlights the ongoing issues faced by Hispanic communities, particularly during the economic hardships of the COVID-19 pandemic. The funds will support financial literacy and counseling programs, enabling over 590,000 families to access housing resources and helping 30,000 buy homes, thus addressing systemic barriers to wealth building.
- Donation of $500,000 to UnidosUS for Hispanic community empowerment.
- Support for financial literacy and homeownership programs benefiting over 590,000 families.
- 30,000 families aided in purchasing homes, contributing to wealth building.
- Economic disparities highlighted, with median Hispanic household wealth significantly lower than white households.
- 60% of Hispanic households reported income declines during the last year, indicating systemic economic issues.
VICTOR, N.Y. and CHICAGO, June 15, 2021 (GLOBE NEWSWIRE) -- 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
“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 BRANDS
At 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.com Amy Martin 585-678-7141 / amy.martin@cbrands.com | Patty Yahn-Urlaub 585-678-7483 / patty.yahn-urlaub@cbrands.com Marisa 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
FAQ
What is the significance of Constellation Brands' donation to UnidosUS?
How many families will benefit from the donation to UnidosUS?
What challenges do Hispanic communities face according to the press release?
What programs will the funds from Constellation Brands support?
