Award-Winning High West Distillery Joins Constellation Brands
(Thomson Reuters ONE) -
Expands Portfolio into Booming Craft Spirits Category with High-End Whiskey
VICTOR, N.Y., Oct. 5, 2016 - Constellation Brands, Inc. (NYSE: STZ and STZ.B), a
leading beverage alcohol company, today announced an agreement to purchase Utah-
based High West Distillery. The acquisition includes all of High West's
operations and its portfolio of distinctive, award-winning and high-end American
straight whiskeys. With High West, which has experienced double-digit volume
growth year over year for the past three years, Constellation Brands enters the
dynamic and profitable high-end craft whiskey segment. The transaction is
expected to close by the end of October.
David Perkins and his wife, Jane, founded High West Distillery in 2004 with a
vision to make delicious whiskey that celebrates the history and heritage of
America's Old West. High West's proprietary blend of old and young whiskeys has
received positive reviews from both industry experts and consumers. With a taste
of the Old West and labels to match, consumers experience stories of cowboys,
campfires, prairies and Utah history in every bottle. High West is the first
legal distillery in the state of Utah since 1870. As part of the agreement, High
West's employees will join the Constellation Brands family to ensure continuity
in the distinctive styles of the whiskeys.
"High West's whiskeys are high-end, distinctive and delicious - perfect for
today's knowledgeable consumer who enjoys artfully crafted whiskeys," said Bill
Newlands, president, wine and spirits division, Constellation Brands. "With the
addition of High West, Constellation Brands bolsters its position in the dynamic
and growing craft spirits category. We look forward to welcoming this creative
and talented team to Constellation Brands as we work together to drive growth
for High West and build our premium spirits portfolio with brands that consumers
love."
"Our award-winning whiskeys are artfully blended to create unique and complex
flavors inspired by the Old West," said John Esposito, chief executive officer,
High West. "We craft innovative whiskey blends that reflect our sense of
adventure and pioneering spirit. When it came to the next step for High West, we
wanted to work with the right partner that will help us grow further while
maintaining our culture and core values. With the strength of the Constellation
Brands team, we will be able to reach more consumers and continue our track
record of innovation."
The High West portfolio sells approximately 70,000 cases annually. The portfolio
includes four core High West Whiskey products: American Prairie Bourbon, Double
Rye!, Rendezvous Rye and Campfire, the only blend of Scotch, bourbon and rye
whiskeys on the market. In addition, High West Distillery produces several
limited edition whiskeys.
About Constellation Brands
Constellation Brands (NYSE: STZ and STZ.B) is a leading international producer
and marketer of beer, wine and spirits with operations in the U.S., Canada,
Mexico, New Zealand and Italy. Constellation is a Fortune 500(®) company and one
of the top performing stocks in the S&P 500 Consumer Staples Index.
Constellation is the No. 3 beer company in the U.S. with high-end, iconic
imported brands such as Corona Extra, Corona Light, Modelo Especial, Modelo
Negra and Pacifico. The company's beer portfolio also includes Ballast Point,
one of the most awarded craft brewers in the U.S. In addition, Constellation is
the world's leader in premium wine, selling great brands that people love,
including Robert Mondavi, Clos du Bois, Kim Crawford, Meiomi, Mark West,
Franciscan Estate, Ruffino and Jackson-Triggs. The company's premium spirits
brands include SVEDKA Vodka and Casa Noble Tequila.
Based in Victor, N.Y., the company believes that industry leadership involves a
commitment to brand building, our trade partners, the environment, our investors
and to consumers around the world who choose our products when celebrating big
moments or enjoying quiet ones. Founded in 1945, Constellation has grown to
become a significant player in the beverage alcohol industry with more than 100
brands in its portfolio, sales in approximately 100 countries, about 40
facilities and approximately 9,000 talented employees. We express our company
vision: to elevate life with every glass raised. To learn more, visit
www.cbrands.com.
About High West Distillery
Utah's first legal distillery since 1870, High West's passion is crafting
delicious and distinctive whiskeys and helping people appreciate whiskey all in
the context of our home, the American West. High West offers an outstanding
collection of highly rated whiskeys in finer liquor stores, bars, and
restaurants in 49 states throughout the U.S. and internationally.
High West must-visit locations include our High West Distillery in Wanship,
Utah. A 30,000 square foot world-class distillery and visitor center featuring
educational tours and High West's unique country-western cuisine. For more
information and where to buy High West products near you, visit highwest.com.
Forward-Looking Statements
This news release contains 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.
Those statements may relate to Constellation Brands' 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 the forward-looking
statements. There can be no assurance that any transaction between Constellation
Brands and High West Distillery will occur or will occur on the timetable
contemplated hereby. All forward-looking statements speak only as of the date of
this news release. Constellation Brands undertakes no obligation to update or
revise any forward-looking statements, whether as a result of new information,
future events, or otherwise.
In addition to risks associated with ordinary business operations, the forward-
looking statements contained in this news release are subject to other risks and
uncertainties, including completion of the announced transaction, the accuracy
of all projections, and other factors and uncertainties disclosed from time to
time in Constellation Brands, Inc.'s filings with the Securities and Exchange
Commission, including its Annual Report on Form 10-K for the fiscal year ended
Feb. 29, 2016, which could cause actual future performance to differ from
current expectations.
CONTACTS
Constellation Media
Alicia Laury: 415-912-3851
Cheryl Gossin: 585-678-7191
Investor Relations
Patty Yahn-Urlaub: 585-678-7483
Bob Czudak: 585-678-7170
High West Media
Mara Flynn: 646-245-6930
###
Constellation Brands logo:
http://hugin.info/143788/R/2046883/765045.jpg
High-West-Distillery-logo-black-copy-(1):
http://hugin.info/143788/R/2046883/765044.jpg
High West portfolio:
http://hugin.info/143788/R/2046883/765043.jpg
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Constellation Brands Inc via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 05.10.2016 - 13:30 Uhr
Sprache: Deutsch
News-ID 498957
Anzahl Zeichen: 8388
contact information:
Town:
Victor
Kategorie:
Business News
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"Award-Winning High West Distillery Joins Constellation Brands"
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