AB InBev owns Modelo beer through Grupo Modelo. In the United States, Constellation Brands holds permanent rights to brew, import and sell it.
Constellation reported beer net sales of $2.28 billion for the quarter ended May 31, 2026, up 2%.
- Constellation’s beer business recorded $8.32 billion in net sales in fiscal 2026.
- Constellation shipped 415.4 million case equivalents of beer in fiscal 2026.
- AB InBev paid $20.1 billion for the half of Grupo Modelo it did not already own.
- Constellation paid $4.75 billion in 2013 for Modelo’s U.S. business and a Mexican brewery.
- AB InBev revenue reached $31.93 billion in the first half of 2026.
Who Owns Modelo Beer Today?
Two companies own Modelo, split by country. AB InBev controls the brand everywhere outside the U.S.
AB InBev and Grupo Modelo in Mexico
AB InBev closed its purchase of Grupo Modelo in June 2013. The Mexico City brewer now runs as an AB InBev unit.
Constellation Brands and U.S. Modelo rights
U.S. regulators made AB InBev sell the American business. Constellation Brands bought those rights forever in June 2013.
Constellation brews U.S. Modelo at plants in Mexico and ships it north.
Largest Shareholders of Modelo Beer’s Parent, AB InBev
Stichting Anheuser-Busch InBev
- Holds 769.3 million shares, or 42.81%.
- A Dutch foundation run by eight directors.
- BRC and EPS control it equally under a pact that runs to 2034.
Eugénie Patri Sébastien (EPS)
- Holds 67.3 million shares directly, about 3.75%.
- Represents the Belgian families behind Interbrew.
- Names four Stichting directors.
Altria Group
- Holds about 34 million ordinary shares, or 1.89%.
- Also owns restricted shares from the 2016 SABMiller deal.
- Places two directors on the AB InBev board.
BRC S.à r.l.
- Holds 27.3 million shares directly, about 1.52%.
- Controlled by Jorge Paulo Lemann, Carlos Sicupira and Marcel Telles.
- Names four Stichting directors.
Constellation Brands (U.S. rights)
- Owns no AB InBev stock.
- Holds perpetual U.S. rights to Modelo, Corona and Pacifico.
- Market value of $20.3 billion as of September 18, 2026.
Who Is on the Board of Directors for Modelo Owner AB InBev?
Board chair and independent directors
Dirk Van de Put became chair, replacing Martin J. Barrington. Van de Put has led Mondelēz International since 2017.
Aradhana Sarin is chief financial officer of AstraZeneca. M. Michele Burns is a former chief executive of Mercer.
Lynne Biggar spent years as a senior marketing executive at Visa.
Directors from the founding shareholder groups
Grégoire de Spoelberch, Alexandre Van Damme and Paul Cornet de Ways Ruart represent the Interbrew families.
Paulo Alberto Lemann represents BRC. Claudio Garcia is a former AB InBev executive.
Fabrizio Freda once ran Estée Lauder. Miguel Patricio led Kraft Heinz. Sabine Chalmers was AB InBev’s top lawyer.
Directors for restricted shareholders
William F. Gifford Jr. and Jennifer Hunter sit on the board for Altria.
Alejandro Santo Domingo represents the Santo Domingo family, a former SABMiller holder.
Modelo Beer Origin, Founders and Early Years
Spanish immigrants open Cervecería Modelo
A group of about 25 Spanish immigrants founded Cervecería Modelo in 1925. Braulio Iriarte and Martín Oyamburu were among them.
The brewery opened in Tacuba, then a town on the edge of Mexico City.
First Modelo brands and U.S. entry
Modelo Especial was first bottled in 1925. Negra Modelo and Corona followed in the brewery’s first few years.
Modelo Especial made its official U.S. debut in 1982.
How Did Modelo Beer Get Its Name?
Modelo is Spanish for “model.” The founders wanted a model brewery that could match the best in Europe.
They brought in German brewing methods and set out to make a model beer for a fast-growing Mexico. The Tacuba plant took the name Cervecería Modelo.
The flagship lager became Modelo Especial, or “special model.” The dark Munich-style lager became Negra Modelo, with negra meaning “black” or “dark.”
The parent group later took the name Grupo Modelo. The brewery’s crest, with two lions and a crown, still sits on every can and bottle.
Modelo Beer Products and Services
Modelo Especial
- Pilsner-style lager at 4.4% ABV.
- First brewed in 1925.
- Became the top U.S. beer by retail sales in May 2023.
- Still the No. 1 U.S. beer brand by dollar sales, per Constellation.
Negra Modelo
- Munich-style dark lager at 5.4% ABV.
- Uses roasted caramel malts.
Modelo Oro
- Light lager at 4.0% ABV and 90 calories.
- Launched in the U.S. in 2023.
Modelo Chelada line
- Beer mixed with lime, salt, tomato or fruit flavors.
- Includes Especial, Limón y Sal and Mango y Chile.
- Sold in 24-ounce and 12-ounce cans.
Modelo Cero
- Alcohol-free Modelo sold by Grupo Modelo.
- Led AB InBev’s no-alcohol growth in Mexico in Q2 2026.
Modelo Beer Mission Statement
Modelo does not publish a separate mission statement. Each owner sets the direction in its own market.
AB InBev states its purpose as “We dream big to create a future with more cheers.” Grupo Modelo follows that line in Mexico and abroad.
In the U.S., Constellation markets Modelo around the “Fighting Spirit.” The ads focus on people who work hard and keep going.
Other drink brands keep ownership simpler. Gallo holds full family control of High Noon with no outside investors.
Newer beers raise money in other ways, as the Kelce-backed Garage Beer investor group shows.
Mexico is also a heavy soft drink market, as Coca-Cola’s per-capita sales data shows.
FAQ
Modelo beer market cap in 2026
Modelo has no market cap because it does not trade on its own. Owner AB InBev had a market cap of about $153.1 billion in September 2026. Constellation Brands stood near $20.3 billion.
Who owns Modelo beer?
AB InBev owns Modelo through Grupo Modelo, which it bought in 2013. Constellation Brands owns the permanent U.S. rights to brew, import, market and sell Modelo.
Is Modelo beer still operational?
Yes. Grupo Modelo brews Modelo in Mexico for AB InBev. Constellation sells it in the U.S., where Modelo Especial ranked as the top beer brand by dollar sales in fiscal 2026.
What is the net worth of Modelo beer?
Modelo has no public stand-alone valuation. AB InBev paid $20.1 billion for the rest of Grupo Modelo, and Constellation paid $4.75 billion for the U.S. business in 2013.
Is Modelo beer an American company?
No. Modelo is a Mexican beer first brewed in Mexico City in 1925. Belgium-based AB InBev owns Grupo Modelo, while U.S. company Constellation Brands holds the American rights.
