Constellation Brands

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Constellation Brands, Inc.
Public
Traded as NYSESTZ
S&P 500 Component
Industry Beverages
Predecessor Canandaigua Brands Inc
Founded 1945 (1945)
Founder Marvin L. Sands
Headquarters Victor, New York, United States
Area served
North America, Europe, Australia, New Zealand
Key people
Richard Sands
(Chairman)
Robert Sands
(President and CEO)
Products Wine, beer, and spirits
Revenue Increase US$6.55 billion (2016)[1]
Increase US$1.77 billion (2016)[1]
Increase US$1.05 billion (2016)[1]
Total assets Increase US$16.97 billion (2016)[1]
Total equity Increase US$6.69 billion (2016)[1]
Number of employees
Increase 9,000 (2016)[1]
Divisions Constellation Wines North America, Constellation Wines Australia and Europe, Constellation Wines New Zealand, Crown Imports
Website www.cbrands.com

Constellation Brands, Inc., of Victor, New York, is a publicly traded drinks company with brands in wine, beer and spirits. It is the largest beer import company measured by sales[2] and has the third-largest market share (7.4 percent) of all major beer suppliers.[3] The company is the largest wine producer in the world.[4]

History[edit]

The company was established in 1945 by Marvin Sands in the Finger Lakes region of New York as Canandaigua Industries Company. Since that time, the company has grown through internal expansion and by acquisitions across all segments of the beverage alcohol industry.

In the fiscal year 2008, it had sales of over $3.77 billion. It operates about 40 production facilities, employs some 4,300, and markets its products worldwide.

The company owns more than 100 brands in wine, beer and spirits. Wine brands include Robert Mondavi, Clos du Bois, Franciscan Estates, Ravenswood, Blackstone, Nobilo, Kim Crawford, Inniskillin, Jackson-Triggs, Manischewitz and Arbor Mist. Beer brands include Corona, Modelo Especial, Negra Modelo, Pacífico, and Tocayo Brewing. Spirits brands include Black Velvet Canadian Whisky, Svedka Vodka and Paul Masson Grande Amber Brandy.

Wine fraud[edit]

In 2010, a French court in Carcassonne, France, convicted 12 wine traders and producers for selling fake Pinot noir wine to buyers in the US, amongst them Constellation, in a scheme that lasted from January 2006 to March 2008. Constellation later faced and settled a class action lawsuit because it "should have known" that the wine was fake.[5]

Acquisitions[edit]

Constellation Brands moved its headquarters to a 120,000 square feet (11,000 m2) building on 11 acres (4.5 ha) in Victor, New York in 2009

Constellation Brands has expanded by acquiring other drinks companies.

In 1987, the company purchased the Manischewitz winery in Canandaigua, New York, and continues to license the Manischewitz name from R.A.B. Foods.[6]

In 1998 it acquired Matthew Clark plc in the United Kingdom, and after selling off its cider business, the Gaymer Cider Company, sold half of the business to Punch Taverns. Acquisitions include BRL Hardy (Australia)[7] and Nobilo (New Zealand) in 2003; Robert Mondavi Corp. for $1 billion in 2004;[8] Vincor International, Canada's largest wine company, for $1.44 billion in 2006;[9] Spirits Marque One (owner of Svedka Vodka) in 2007;[10] and Beam Wines Estates, the wine operations of Fortune Brands (which included several major brands such as Clos du Bois) for $885 million in 2008.[11] The company later moved to a more premium wine portfolio, divesting Almaden Vineyards, Inglenook Winery, and the Paul Masson winery in Madera, California, in 2008,[12] and its value spirits portfolio to the Sazerac Company in 2009.[13]

In June 2013 the company, which formerly imported Corona and other Modelo brands to the United States, acquired the US rights to those brands as a part of an anti-trust settlement permitting Modelo's acquisition by Anheuser-Busch InBev, along with a brewery in Piedras Negras, Mexico. It now produces its own versions of those products for the US, with Modelo serving all other countries.

In December 2015, Constellation announced the $1 billion acquisition of Ballast Point Brewing of San Diego.

See also[edit]

References[edit]

  1. ^ a b c d e f Constellation Brands, Incorporated (April 25, 2016), FORM 10-K for the Fiscal Year Ended February 29, 2016, Washington, D.C.: U.S. Securities and Exchange Commission, File 001-08495, Film 161588523, retrieved 2016-12-09 
  2. ^ Brewers Association. "Sales of the leading beer import companies in the United States in 2015 (in million U.S. dollars)". In Statista - The Statistics Portal. Retrieved 2016-12-10. 
  3. ^ Beer Marketer's Insights. "Beer Marketer's Insights - Major Supplier Shipments and Share: 2015 vs 2014". BeerInsights.com. Retrieved 2016-12-10. 
  4. ^ David Kesmodel (February 25, 2010). "Liquor Discounts Become Bad Habit for Spirits Makers". Wall Street Journal. New York. 
  5. ^ French Pinot Noir Class Action Settlement
  6. ^ "Manischewitz wine - heritage - history". Archived from the original on August 1, 2008. Retrieved 2008-09-06. 
  7. ^ Shaw, John (January 18, 2003). "Constellation Brands Agrees to Buy Australian Winery". The New York Times. Retrieved April 24, 2009. 
  8. ^ "Mondavi to Join Constellation in $1 Billion Deal". Wine Spectator. Retrieved May 15, 2009. 
  9. ^ "Constellation To Buy Vincor for $1.09 Billion". USA Today. April 3, 2006. Retrieved May 15, 2009. 
  10. ^ "Constellation Brands to Buy Svedka Vodka". Reuters. February 6, 2007. Retrieved May 15, 2009. 
  11. ^ Sam Zuckerman (November 13, 2007). "Constellation Brands buys several California premium wine labels". San Francisco Chronicle. Retrieved November 13, 2007. 
  12. ^ Styles, Oliver (January 23, 2008). "Constellation sells Inglenook, Almaden and Paul Masson winery, reports 832 million dollar loss". Decanter.com. 
  13. ^ Gershberg, Michele (January 12, 2009). "Constellation Sells Value Spirits for $334 Mln". Reuters UK. Retrieved May 15, 2009. 

External links[edit]