Constellation Brands is eyeing possible acquisitions worth between $500m and $2bn, its chairman and chief executive Richard Sands has revealed.

Sands said that the group is considering making acquisitions in the spirits sector, which could include individual brands or spirits companies.

Premium spirits, Sands added, was a “natural area of growth” for Constellation Brands.

In June this year Constellation pulled out of the bidding race for Allied Domecq, which was taken over by French drinks group Pernod Ricard.