VICTOR, N.Y., June 16, 2017 -
Constellation Brands, Inc. (NYSE: STZ and STZ.B), a leading premium
wine company, announced that it has enhanced its fine wine
portfolio with the purchase of Schrader Cellars' iconic wines. The
Schrader Cabernet Sauvignon portfolio, sourced from the premier
vineyards of Napa Valley, including the famed Beckstoffer To Kalon
Vineyard in Oakville, is the highest-rated American Cabernet
Sauvignon portfolio with a total of nineteen 100-point ratings from
Wine Advocate, Wine Spectator and jamessuckling.com. The agreement
includes vineyard sourcing, current inventories, and eight Schrader
Cabernet Sauvignons.
"The journey for Schrader Cellars and
Constellation Brands is just beginning," said Schrader's
award-winning winemaker Thomas Brown, who will work with the
Constellation team and continue to lead all aspects of the
winemaking from vineyard to bottle. "With Constellation's expertise
and high- quality vineyards, the potential for these wines is
endless."
"Knowing Constellation's reputation for valuing
quality, integrity and customer focus as much as we do, there was
no question in my mind that they are the perfect steward of
Schrader wines moving forward," said founder Fred Schrader. "We are
impressed by their talented, dedicated team and passionate
winemakers. I look forward to working with Constellation to take
great care of the wines I've dedicated a significant part of my
life cultivating."
The decision to collaborate with Constellation for
the future of Schrader's fine wines was facilitated by Carol
Schrader and Constellation Brands Chief Operating Officer, Bill
Newlands, who have worked together in past wine endeavors.
Founded in 1998, Schrader Cellars' namesake wines,
Schrader CCS and Schrader Old Sparky, both sourced from the
Beckstoffer To Kalon Vineyard, were awarded 100 points from Robert
Parker, of Wine Advocate for three consecutive vintages and are the
only wines in the history of the Wine Spectator blind tasting
program to achieve perfect 100-point scores upon release. The
portfolio also includes Schrader Beckstoffer To Kalon Vineyard
Cabernet Sauvignon, Schrader GIII Beckstoffer Georges III Cabernet
Sauvignon, Schrader LPV Beckstoffer Las Piedras Vineyard Cabernet
Sauvignon, Schrader RBS Beckstoffer To Kalon Vineyard Cabernet
Sauvignon, Schrader T6 Beckstoffer To Kalon Vineyard Cabernet
Sauvignon, and Schrader Colesworthy Beckstoffer Las Piedras
Vineyard Cabernet Sauvignon. The superior-quality
limited-production wines are sold direct-to-consumer through a
mailing list with an exclusive offering available in fine dining
establishments. The collection will join Constellation's newly
established fine wine organization, TRU Estates and Vineyards - a
team specialized in servicing luxury wine consumers and
customers.
Constellation's Senior Vice President of Wine and
Spirits Production, Sam Glaetzer, who grew up in a
multi-generational winemaking family dating back to some of the
earliest recorded viticulturists in Australia, admires the
contributions the Schraders have made to the world of wine. "The
Schraders have created something truly unique and unparalleled in
wine," said Glaetzer. "Their unwavering commitment to quality
vineyards and winemaking has built a portfolio of world-class wines
with an elite and loyal consumer following. We are thrilled to be
working with Thomas, Fred and Carol to help cultivate and preserve
these incredible fine wines."
Constellation Brands and the Schrader team will
continue to work together to deliver the same iconic wines and
experience the Schrader consumers know and love today. With Thomas
Brown at the winemaking helm, Schrader's standard of excellence in
winemaking will remain unchanged, and founders Fred and Carol
Schrader will continue to share their passion for the portfolio and
their tradition of building exceptional customer relationships.
Terms of the transaction were not disclosed.
About Constellation
Brands
Constellation Brands (NYSE: STZ and STZ.B), a Fortune 500® company,
is a leading international producer and marketer of beer, wine and
spirits with operations in the U.S., Mexico, New Zealand, Italy and
Canada. 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
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 The Prisoner. The company's
premium spirits brands include SVEDKA Vodka, Casa Noble Tequila and
High West Whiskey.
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, 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 Schrader
Cellars
Fred Schrader began his life as a vintner with one defining goal in
mind - to create benchmark Cabernet Sauvignon from the most notable
vineyards in the Napa Valley. In the early vintages, Fred sourced
grapes from a renowned site in the southern region of the Napa
Valley. Then in 2000, a fortuitous barrel tasting brought Fred to
the doorsteps of Andy Beckstoffer and he soon began sourcing fruit
from the magnificent Beckstoffer To Kalon Vineyard. It is also the
same year that he hired an enthusiastic young winemaker, Thomas
Brown.
Today, Schrader Cellars is enduringly committed to
the unparalleled quality of the Beckstoffer Vineyards and now
sources grapes from the Beckstoffer Georges III Vineyard and
Beckstoffer Las Piedras Vineyards, in addition to the legendary
Beckstoffer To Kalon Vineyard. With its historic critical acclaim
from famed critics Robert Parker, Wine Advocate, James Laube, Wine
Spectator, and James Suckling, Schrader is widely regarded as the
preeminent producer of world-class Cabernet Sauvignons in the New
World and since its inception has never stopped in its pursuit of
greatness.
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. 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
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, 2017, which
could cause actual future performance to differ from
current expectations.
CONTACTS
Amy Martin
585-678-7141 / amy.martin@cbrands.com
Anne Siegel
707-225-4621 / anne.siegel@cbrands.com
Schrader_decanter
Constellation Brands logo
Schrader_portfolio
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
Constellation Brands (NYSE:STZ)
Historical Stock Chart
From Mar 2024 to Apr 2024
Constellation Brands (NYSE:STZ)
Historical Stock Chart
From Apr 2023 to Apr 2024