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Cramer: Constellation Brands can ‘take over the world’

Thinking about investing in the beverage space? Take a look at Constellation Brands, CNBC's Jim Cramer said Wednesday.

"Move over, Bud; move over, Molson. It's all about Corona and Modelo,"Cramer said on "Squawk on the Street," referring to two of the company's best-selling beers.

"Mexican beers, they've got the highest quality problem you can have as a business. They don't have the capacity to make all that is necessary. They literally need to have more capacity because this is so popular. It is what people want," Cramer said.

Cramer made his remarks after the company reported better-than-expected quarterly results. The company's forward-looking guidance was also better than expected.

"This was the best beverage quarter of any company in America. It has 13 percent organic growth. Nobody's got anywhere near that," Cramer said. "They have free cash flow of $522 million, up from $362 million last year."

"These guys can take over the world if they want to."

Share prices of Constellation Brands were up more than 4 percent Wednesday morning, and have risen over 30 percent in the last year.

Disclosure: Cramer's trust did not own Constellation Brands stock when this article was published.