In October, Anheuser-Busch InBev, the world's largest brewer, closed its $107 billion acquisition of SABMiller, the second biggest brewer. The ultimate winner of this transaction was Molson Coors, because in order for anti-trust regulators to approve the deal, the combined company was forced to sell off various assets
The sale included SABMiller's 58 percent stake in MillerCoors, its joint venture with Molson Coors. Molson snapped it up for $12 billion, much less than it was worth, and it gave them total control of the MillerCoors business that includes Miller Lite, Blue Moon, Coors Lite and Keystone among others.
In addition to the strength of Modelo, Corona and Pacifico, Constellation has made a series of smaller acquisitions, and picked up several fast-growing craft beer brands and high-end wines.
After speaking with Constellation's CEO Rob Sands on Thursday, Cramer came to the conclusion that fears of Trump's agenda are overblown. It's not like Ford or General Motors moving an auto plant from Michigan to Mexico. If they made a Mexican beer in the U.S., it wouldn't really be a Mexican beer.
More importantly, Constellation's management reviewed several different trade legislation scenarios on its conference call, and under each one, said they believe they can continue to generate double-digit earnings growth for the next three years. Additionally, 40 percent of its beer costs are already sourced in the U.S.
"Sure, there are some unknowns in terms of a possible tariff on Mexican goods, but I think that is pretty much baked in at this point, whereas the positives from the company's continued strength are being ignored," Cramer said.
Ultimately, Cramer remained strong on his stance that Constellation is his No. 1, with Molson Coors coming in second.