Constellation
Brands Completes Sale of Almaden and
Inglenook
to The Wine Group
FAIRPORT,
N.Y., Feb. 28, 2008–
Constellation Brands, Inc. (NYSE: STZ, ASX: CBR), a leading international
producer and marketer of beverage alcohol, today completed the previously
announced sale of the Almaden and Inglenook wine brands, and the Paul Masson
winery located in Madera, Calif., to The Wine Group LLC for $134 million
in
cash. Proceeds from the
transaction will be used to reduce Constellation’s
borrowings.
About
Constellation Brands
Constellation
Brands, Inc. is a leading international producer and marketer of beverage
alcohol in the wine, spirits and imported beer categories, with significant
market presence in the U.S.,
Canada,
U.K.,
Australia
and
New
Zealand. Based in Fairport,
N.Y.,
the company has more than 250 brands,
sales in about 150 countries, operates nearly 60 facilities
worldwide. It is also the largest wine producer in the world and an
S&P 500 Index and Fortune 500® company. Major brands in the
company’s portfolio include Corona,
Black Velvet, SVEDKA Vodka, Robert
Mondavi, Clos du Bois, Ravenswood, Blackstone, Hardys, Banrock Station, Nobilo,
Kim Crawford, Inniskillin, Jackson-Triggs and Arbor Mist. To learn
more about the company and its products visit Constellation’s Web site at
www.cbrands.com.
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