(TheStreet) - Constellation Brands (STZ) said Monday it would buy a Mexican brewery from Anheuser-Busch InBev (BUD) , adding some badly needed beer production capacity to its portfolio, but does so at the risk of further straining the already high leverage for a well-loved company.

Constellation, the premium beer, wines and spirits company, trades at a forward P/E of 24 times, and, at $168, its shares are already in nose bleed territory, with its 17% year to date gain more than quadrupling the improvement in the S&P 500.

What's more, there's always the risk that Constellation is going to put on its own beer goggles and decide the time might be ripe to make another splashy acquisition, such as Boston Beer (SAM) , the struggling maker of the premium craft product line of Sam Adams.