Constellation Brands Completes Acquisition of Grupo Modelo's U.S. Beer Business
(Thomson Reuters ONE) -
~Acquisition nearly doubles company's sales and significantly increases EBIT and
free cash flow; Solidifies Constellation's position as the #1 multi-category
supplier for beer, wine and spirits in the U.S~
VICTOR, N.Y., June 7, 2013 - Constellation Brands, Inc. (NYSE: STZ and STZ.B), a
leading beverage alcohol company, announced today that it has completed its
acquisition of Grupo Modelo's U.S. beer business from Anheuser-Busch InBev for
approximately $4.75 billion. The transaction includes full ownership of Crown
Imports LLC which provides Constellation with complete, independent control of
all aspects of the U.S. commercial business; a state-of-the-art brewery in Nava
(Piedras Negras), Mexico; exclusive perpetual brand license in the U.S. to
import, market and sell Corona and the Modelo brands Crown currently sells and
the freedom to develop brand extensions and innovations for the U.S. market.
"Today begins a new chapter in Constellation's history," said Rob Sands,
president and chief executive officer, Constellation Brands. "We are now the
proud owners of six of the top 20 imported beer brands in the U.S. and a coveted
portfolio of premium brands in the growing U.S. imported beer category. We are
committed to successfully running and investing in the world-class Mexican
brewery and are very excited about the potential for developing new products and
line extensions within the portfolio of brands in the U.S."
The Crown portfolio includes Corona Extra, Corona Light, Modelo Especial, Negra
Modelo, Pacifico and Victoria from Mexico and Tsingtao from China. In fiscal
year 2012, Crown outperformed the import and total U.S. beer categories for the
third consecutive year as Corona Extra exceeded the 100-million case mark for
the year. It was the only imported brand in the U.S. to achieve this sales
milestone. Modelo Especial also achieved a significant milestone selling more
than 40 million cases in depletions for the year.
With the close of the acquisition, Constellation begins to operate as one
company with two divisions: a beer division and a wine and spirits division. A
brewery operations group has also been established to manage the expansion and
integration of the Nava brewery. Constellation plans to invest $500-$600 million
during the next three years to expand the facility to double its current
capacity to meet projected demand for products in the U.S. Paul Hetterich,
executive vice president for Business Development and Corporate Strategy, leads
this team.
Bill Hackett, president of the beer division, retains his current
responsibilities for importing, marketing and selling the Modelo brands in the
U.S. Hackett joins the company's executive management committee and reports
directly to Sands.
Constellation's wine and spirits division is led by Jay Wright, president, who
will continue to report to Sands.
"I am very pleased to welcome the Crown and the Nava employees to the
Constellation family and I would like to thank everyone who has worked
tirelessly during the last year to make this transaction a reality. This is an
exciting time for our people and for our company," said Sands.
About Constellation Brands
Constellation Brands is a leading wine, beer and spirits company with a broad
portfolio of premium brands. Constellation is the world leader in premium wine,
the number one beer importer and the number three beer company in the U.S. The
company's brand portfolio includes Arbor Mist, Black Box, Blackstone, Clos du
Bois, Estancia, Franciscan Estate, Inniskillin, Kim Crawford, Mark West, Mount
Veeder, Nobilo, Ravenswood, Rex Goliath, Robert Mondavi, Ruffino, SIMI, Toasted
Head, Wild Horse, Corona Extra, Corona Light, Modelo Especial, Negra Modelo,
Pacifico, Black Velvet Canadian Whisky and SVEDKA Vodka.
Constellation Brands (NYSE: STZ and STZ.B) is an S&P 500 Index and Fortune
1000® company with more than 100 brands in our portfolio, sales in approximately
100 countries and operations in approximately 40 facilities. The company
believes that industry leadership involves a commitment to our brands, to the
trade, to the land, to investors and to different people around the world who
turn to our products when celebrating big moments or enjoying quiet ones. We
express this commitment through our vision: to elevate life with every glass
raised. To learn more about Constellation, visit the company's website at
www.cbrands.com.
Forward-Looking Statements
This news release contains forward-looking statements. All statements other
than statements of historical fact are forward-looking statements. The word
"expect" and similar expressions are intended to identify forward-looking
statements, although not all forward-looking statements contain such identifying
words. These statements may relate to business strategy, future operations,
prospects, plans and objectives of management, as well as information concerning
expected actions of third parties. All forward-looking statements involve risks
and uncertainties that could cause actual results to differ materially from
those set forth in, or implied by, such forward-looking statements. All
forward-looking statements speak only as of the date of this news release and
Constellation Brands undertakes no obligation to update or revise any forward-
looking statements, whether as a result of new information, future events or
otherwise. The forward-looking statements are based on management's current
expectations should not be construed in any manner as a guarantee that such
results will in fact occur or will occur on the timetable contemplated hereby.
In addition to the risks and uncertainties of ordinary business operations, the
forward-looking statements of Constellation Brands contained in this news
release are subject to a number of risks and uncertainties, including completion
of the brewery expansion by the expected completion date and on the expected
terms, and other factors and uncertainties disclosed in the company's filings
with the Securities and Exchange Commission, including its Annual Report on Form
10-K for the fiscal year ended February 28, 2013, which could cause future
performance to differ from current expectations.
CONTACTS
Media
Angela Howland Blackwell: 585-678-7141
Cheryl Gossin: 585-678-7191
Investor Relations
Patty Yahn-Urlaub: 585-678-7483
Bob Czudak: 585-678-7170
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Constellation Brands Inc via Thomson Reuters ONE
[HUG#1708115]
Unternehmensinformation / Kurzprofil:
Datum: 07.06.2013 - 22:00 Uhr
Sprache: Deutsch
News-ID 267774
Anzahl Zeichen: 7671
contact information:
Town:
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Kategorie:
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