~ Acquisition further strengthens Constellation's position
at high end of the wine category ~
VICTOR, N.Y., April 6, 2016 -
Constellation Brands, Inc. (NYSE: STZ and STZ.B), a leading premium
wine company announced that it has agreed to acquire The Prisoner
Wine Company's portfolio of brands from Huneeus Vintners, a fine
wine company. The portfolio includes five fine wine brands led by
The Prisoner, a fast growing super luxury wine, and also includes
Saldo, Cuttings, Blindfold and Thorn. The transaction is expected
to close by the end of April.
The brands from The Prisoner Wine Company have
grown quickly over the last three years, offering a portfolio of
unique wine blends anchored by The Prisoner. Launched in 2003, The
Prisoner soon became the most recognized innovative and unique Napa
Valley Red Wine blend, leading the resurgence of blends, and today
is the #1 super luxury red blend, growing 28 percent in retail
sales since last year, while maintaining a strong presence in the
on premise*. The Prisoner
has a consistent track record of 90+ point scores and has been a
Wine Spectator Top 100 wine three times. Saldo
is the #2 super luxury Zinfandel with IRI dollar sales growth of
more than 40 percent over the last 52 weeks while Blindfold is the
#1 super luxury white blend*.
"More than ever, consumers are seeking high
quality, distinctive wines and the portfolio we are acquiring from
The Prisoner Wine Company delivers," said Bill Newlands, president
of the Wine and Spirits Division of Constellation Brands, Inc.
"Huneeus Vintners is known for building luxury wine brands and
excels in growing gems and turning them into powerhouse
brands. These wines resonate with consumers and this
acquisition further strengthens our position in the fine wine
segment of the category."
"Huneeus Vintners and Constellation have a strong
history of respect and success working together," said Agustin
Francisco Huneeus. "Our team - including employees, growers,
distributors, and winery partners - have created and built an
exceptional portfolio of fine wines and we are very proud of the
success they have achieved in a relatively short timeframe.
Constellation's market reach, business intelligence and access to
high quality grapes, will enable the brands' continued growth
momentum."
Huneeus Vintners and Constellation will maintain a
winemaking consulting agreement with The Prisoner Wine Company
general manager and winemaker Jen Beloz and her production team, to
ensure continuity in the unique styles of the wines. The wines will
have further access to premium Napa fruit and winemaking and
production will occur at Franciscan Estate winery.
The Prisoner was created and inspired by the
drinkable "mixed blacks" first made by the Italian immigrants who
originally settled in the Napa Valley. The wine is a blend of
Zinfandel, Cabernet Sauvignon, Syrah, Petite Sirah and Charbono. It
features enticing aromas of bing cherry, espresso, and roasted fig.
Persistent flavors of ripe raspberry, pomegranate and wild berry
linger harmoniously for a smooth and luscious finish.
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. In
2015, Constellation was one of the top performing stocks in the
S&P 500 Consumer Staples Index. Constellation is the number
three beer company in the U.S. with high-end, iconic imported
brands including Corona Extra, Corona Light, Modelo Especial, Negra
Modelo, Pacifico, and Ballast Point, one of the most awarded craft
brewers in the U.S. Constellation is also 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 Black Velvet Canadian Whisky.
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 Huneeus
Vintners
Spanning generations and hemispheres, the fine wines of Huneeus
Vintners reflect a sense of place and a passion for excellence.
After years of running global wine companies, father and son,
Agustin Huneeus and Agustin Francisco Huneeus, teamed up in 2005 to
establish a portfolio of wines that represent the finest vineyard
estates, appellations and wines in both North and South America.
Today, the critically-acclaimed wines and estates include
Quintessa, Flowers, Faust, Illumination, The Prisoner Wine Company
(The Prisoner, Saldo, Cuttings, Blindfold and Thorn), Neyen,
Primus, Ritual and Veramonte. It takes generations of focus,
passion and determination to build some of the greatest wine brands
in the world. Learn more at www.huneeusvintners.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 Huneeus Vintners 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. 28, 2015, which could
cause actual future performance to differ from current
expectations.
CONTACTS
CONSTELLATION BRANDS:
Alicia Laury: 415-298-4277 /
alicia.laury@cbrands.com
Cheryl Gossin: 585-678-7191 /
cheryl.gossin@cbrands.com
HUNEEUS VINTNERS:
Joel Fisher: 415-845-1655 /
joel@joelfisherconsulting.com
###
* IRI, Total US
Multi-Outlet and Convenience, 52 weeks ending 2/21/16
Constellation Brands Logo
The Prisoner
TPWC All Brands
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX 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
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