Constellation
Brands’ Cash Offer For
Vincor
International Expires
FAIRPORT,
N.Y., Dec. 9, 2005 - Constellation
Brands, Inc. (NYSE: STZ, ASX: CBR) today announced that its offer to purchase
all of the common shares of Vincor International Inc. (TSX: VN) expired at
midnight (Toronto time), on Dec. 8, 2005, consistent with the terms of the
offer.
“It
is
unfortunate for Vincor shareholders that the Vincor board chose not to pursue
the alternative that would maximize value for its shareholders, despite the
board’s failure to identify any other alternatives,” said Richard Sands,
Constellation Brands chairman and chief executive officer. “The Vincor board
refused to engage in any dialogue with us regarding our C$35 per share cash
proposal.”
Sands
added, “Constellation could not let this process continue indefinitely. In these
circumstances, we will move on to other priorities and we will continue to
build
upon our outstanding track record of delivering growth and value to our
shareholders."
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.
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