The University of Texas at San Antonio has announced a $20 million gift from businessman Carlos Alvarez and his family in support of its College of Business.

The gift will be used to advance research-enhancing activities, including  endowed faculty positions, graduate fellowships, and undergraduate programs. In recognition of the gift, the college will be renamed the Carlos Alvarez College of Business — the first named college at UTSA.

Originally from Mexico, Alvarez sold the very first cases of Corona beer in the United States in 1981 in Austin, moved to San Antonio in 1986, and founded the Gambrinus Co., which became the U.S. importer for the Grupo Modelo beer brands and has since acquired multiple U.S. breweries.

"We are very proud to support UTSA and its outstanding students, many of whom — like me — are first-generation Mexican Americans," said Alvarez, who co-chairs UTSA's Campaign Leadership Council. "My previous support for UTSA dates back to 2006. As a result of UTSA's stewardship of my previous gifts, and its success in growing and attracting high-caliber students, I was compelled to make this gift to the College of Business and support the largest business school in San Antonio, where I built my own business."

"The Alvarezes' generous gift will have a profound impact on the university, our students and our community because it truly is an investment in the future entrepreneurs and business leaders of San Antonio and Texas," said Kimberly Andrews Espy, provost and senior vice president for academic affairs at UTSA. "This type of investment is especially meaningful for Hispanic-serving institutions such as UTSA, where more than half of our students pursuing business degrees are Latino. We are incredibly grateful to the Alvarezes for supporting our work to further diversify the leadership of our workforce and ensure it is representative of our communities."