EXHIBIT 99.1
Published on November 29, 2005
EXHIBIT
99.1
[LOGO] CONSTELLATION
| NEWS RELEASE |
CONTACTS:
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Media
Relations:
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|
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Mike
Martin -
585-218-3669
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|
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John
Lute -
416-929-5883
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Investor
Relations:
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Lisa
Schnorr
- 585-218-3677
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Bob
Czudak -
585-218-3668
|
CONSTELLATION
BRANDS PROVIDES VINCOR SHAREHOLDERS WITH FACTS ABOUT ITS ENHANCED
OFFER
FAIRPORT,
N.Y., Nov. 29, 2005 -
Constellation Brands, Inc. (NYSE: STZ, ASX: CBR) today provided
the
following facts about its enhanced offer to buy Vincor International Inc.
(TSX:
VN), which was announced November 28.
| § |
Constellation’s
best and final offer for Vincor is C$33 cash per share, in the
absence of
an agreement with Vincor’s board.
|
| § |
Constellation
could raise its offer to C$35 cash per share if, and only if, all
of the
following terms are met:
|
| 1) |
Vincor’s
board supports the transaction;
|
| 2) |
Vincor’s
board agrees to customary cooperation throughout the sale, transition
and
integration process; and
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| 3) |
Acceptable
confirmatory due diligence.
|
| § |
There
are no
ongoing discussions with Vincor.
|
| § |
Constellation
is prepared to let the offer expire on December 8, unless the offer
is
accepted or an agreement is entered into with Vincor before that
deadline.
|
| § |
If
Vincor's
shareholders want to accept Constellation’s enhanced C$33 cash per share
offer, they must tender their shares on, or before, December 8.
|
| § |
If
Vincor's
board wants to act in the best interests of its shareholders, and
provide
its shareholders with the possibility of an offer at C$35 cash
per share,
the board must act now.
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more
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2 -
About
Constellation Brands
Constellation
Brands, Inc. is a leading international producer and marketer of beverage
alcohol brands with a broad portfolio across the wine, spirits and imported
beer
categories. Well-known brands in Constellation's portfolio include:
Corona
Extra, Corona Light, Pacifico, Modelo Especial, Negra Modelo, St. Pauli Girl,
Tsingtao, Black Velvet, Fleischmann's, Mr. Boston, Paul Masson Grande Amber
Brandy, Chi-Chi's, 99 Schnapps,
Ridgemont
Reserve 1792, Effen Vodka, Stowells, Blackthorn, Almaden, Arbor Mist, Vendange,
Woodbridge by Robert Mondavi, Hardys, Nobilo, Alice White, Ruffino, Robert
Mondavi Private Selection, Blackstone, Ravenswood, Estancia, Franciscan Oakville
Estate, Simi, Robert Mondavi Winery brands and Opus One. For additional
information about Constellation Brands, as well as its product portfolio,
visit
the company's Web site at www.cbrands.com.
Forward
Looking Statements
This
press release
contains "forward-looking statements" within the meaning of Section 27A of
the
Securities Act of 1933 and Section 21E of the Securities Exchange Act of
1934.
These forward-looking statements are subject to a number of risks
and
uncertainties, many of which are beyond Constellation's control, that could
cause actual results to differ materially from those set forth in, or implied
by, such forward-looking statements. All statements other than statements
of historical facts included in this press release are forward-looking
statements. All forward-looking statements speak only as of the date
of
this press release. Constellation undertakes no obligation to update
or
revise any forward-looking statements, whether as a result of new information,
future events or otherwise. There can be no assurance that any transaction
between Constellation and Vincor will occur, or will occur on the timetable
contemplated hereby. For additional information about risks and
uncertainties that could adversely affect Constellation's forward-looking
statements, please refer to Constellation's Annual Report on Form 10-K for
the
fiscal year ended February 28, 2005 and Constellation's Quarterly Report
on Form
10-Q for the fiscal quarter ended August 31, 2005.
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