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Beer mega-deal won't affect us: Constellation CEO

A potential mammoth merger of Anheuser-Busch InBev and SABMiller would not spell doom for Corona seller Constellation Brands, its CEO said Wednesday.

SABMiller on Wednesday declined a roughly $104 billion offer from Anheuser, the third rejection of a deal this month. The combined company would control about one-third of the world beer market.

"It probably wouldn't have much of an effect on us. This is really about different parts of the world than North America," said Constellation CEO Rob Sands in a CNBC "Closing Bell" interview.

Rob Sands, president and chief executive officer of Constellation Brands
Jonathan Fickies | Bloomberg | Getty Images
Rob Sands, president and chief executive officer of Constellation Brands

Earlier in the day, the beer, wine and spirits company posted diluted quarterly earnings of $1.56 per share, up 41 percent from last year. Net beer sales increased 14 percent year over year.

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Sands does not see the potential merger affecting the fundamentals of Constellation's business.

"The conditions that have driven this kind of growth in our beer business historically are going to remain intact for the foreseeable future," he said.

Constellation shares rose 2.5 percent on Wednesday.