Constellation
Brands Completes
Sale
of U.K. Cider Business
VICTOR, N.Y., Jan. 15, 2010 –
Constellation Brands, Inc. (NYSE: STZ, ASX: CBR), the world’s leading wine
company, announced today that it has completed the sale of its Gaymer Cider
Company business to C&C Group PLC of Dublin, Ireland for a purchase price
of £45 million, or approximately $70 million, subject to closing
adjustments. The company expects to use the proceeds from the
sale to reduce borrowings.
About
Constellation Brands
Constellation
Brands is the world’s leading wine company that achieves success through an
unmatched knowledge of wine consumers paired with storied brands that suit
varied lives and tastes. With a broad portfolio of widely admired premium
products across the wine, beer and spirits categories, Constellation’s brand
portfolio includes Robert Mondavi, Hardys, Clos du Bois, Blackstone, Arbor Mist,
Estancia, Ravenswood, Jackson-Triggs, Kim Crawford, Corona Extra, Black Velvet
Canadian Whisky and SVEDKA Vodka.
Constellation
Brands (NYSE: STZ and STZ.B; ASX: CBR) is an S&P 500 Index and Fortune 1000®
company with more than 100 total brands in our portfolio, sales in about 150
countries and operations in approximately 45 facilities. The company believes
that industry leadership involves a commitment to our brands, to the trade, to
the land, to investors and to different people around the world who turn to our
products when celebrating big moments or enjoying quiet ones. We express this
commitment through our vision: to elevate life with every glass raised. To learn
more about Constellation Brands and its product portfolio visit the company's
web site at www.cbrands.com.
Forward-Looking
Statements
This news release contains
forward-looking statements. The words “anticipate,” “intend,” and
“expect,” and similar expressions are intended to identify forward-looking
statements, although not all forward-looking statements contain such identifying
words. These statements may relate to Constellation’s 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, such
forward-looking statements.
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Although Constellation believes the
expectations reflected in the forward-looking statements are reasonable,
Constellation can give no assurance that such expectations will prove to be
correct. All forward-looking statements speak only as of the date of
this news release. Constellation 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 other factors and uncertainties disclosed from time to time in the
company’s filings with the Securities and Exchange Commission, including its
Annual Report on Form 10-K for the fiscal year ended Feb. 28, 2009, which could
cause actual future performance to differ from current
expectations.
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