Canandaigua Brands Inc. Announces Name Change to Constellation Brands, Inc.Business Editors FAIRPORT, N.Y.--(BUSINESS WIRE)--Aug. 28, 2000 Name Better Reflects the Scope of Company That is Largest Single-source Supplier of Beer, Wine and Distilled Spirits STZ STZ Steinbeis-Transferzentrum STZ Streptozotocin Will Be New Ticker on NYSE NYSE See: New York Stock Exchange ; Changes Become Effective September 20, 2000 Canandaigua Brands Inc., (NYSE: CDB CDB Common Database CDB Caribbean Development Bank CDB Convention sur la Diversité Biologique (Convention on Biological Diversity) CDB China Development Bank (Beijing, China) CDB Capital Development Board , CDB.B) today announced its intention to change its corporate name to Constellation Brands Constellation Brands, Inc., headquartered in Fairport, New York, is a leading international producer and marketer of beverage alcohol brands with a broad portfolio across the wine, imported beer and spirits categories. , Inc. (NYSE: STZ, STZ.B). The name Constellation, which is expected to become effective September 20, 2000 pending shareholder approval, better reflects the scope of a company that is the largest single-source supplier of beer, wines and distilled spirits in the U.S. Leading U.S. brands include Corona Extra, Black Velvet, Almaden, Arbor Mist Arbor Mist is the brand name of an alcoholic beverage which blends seasonal wines such as merlot, zinfandel and chardonnay with fruit flavorings. Their slogan is "Great Tasting Wine with a Splash of Fruit," describing the beverage. and Estancia es·tan·cia n. A large estate or cattle ranch in Spanish America. [Spanish, room, enclosure, country estate, from Vulgar Latin *stantia, something standing, from Latin . In the United Kingdom, the company is a leading source of wine, cider and bottled water. The Constellation Companies - Barton, Canandaigua Wine, Franciscan Estates and Matthew Clark - will retain their names and current operating structure, enabling the companies to maintain their closeness to their respective customers and markets to enable quick response to changing market conditions. The company, with annual gross sales Gross Sales A measure of overall sales that isn't adjusted for customer discounts or returns, calculated simply by adding all sales invoices, and not including operating expenses, cost of goods sold, payment of taxes, or any other charge. exceeding $3 billion, has grown from $213 million in gross sales in 1991, which represents an average annual compound growth rate of 35 percent. "The new name, serves as a more apt description of a company that has grown in both the breadth and depth of its product lines as well as its geographic reach," said Richard Sands, Chairman, President and Chief Executive Officer. "Through our diversified, balanced portfolio of leading brands, we bring consumers in the U.S., Canada and the U.K. a number of leading brands, enabling the company to meet their tastes and preferences across several market and demographic sectors. The company has experienced dramatic expansion in size and profitability over the past several years. We intend to continue this positive pattern through a combination of internal growth and acquisitions, all supported by our Constellation Companies, brands and people who provide us with the stability, market presence and customer responsiveness that have made us one of the premier companies in our industry." Leading U.S. and Canadian brands include: - Stowells of Chelsea, No.1 wine - Blackthorn, No.2 in mainstream cider - Almaden, No.2 box wine - St. Pauli Girl St. Pauli Girl beers are brewed and bottled by the St. Pauli Brauerei, which is located within the Beck's brewery in Bremen, Germany. The brand derives its name from the fact that the original brewery was built upon St Paul's Monastery. , No.2 imported German beer - Montezuma, No.2 tequila - Black Velvet, No.3 Canadian whisky - Paul Masson Grande Amber, No.3 brandy In addition, Franciscan Estates, whose estates include Estancia, Franciscan Oakville Estate, Mount Veeder, Quintessa, Simi and Veramonte, is among the top five fine wine companies in the U.S. Leading U.K. brands include: - Stowells of Chelsea, No.1 wine - Blackthorn, No.2 in mainstream cider - Diamond White, No.1 fashion cider - QC, No.1 fortified fortified (fôrt  ´fīd),adj containing additives more potent than the principal ingredient. British wine - Strathmore, No.1 in bottled sparkling water Canandaigua Brands, Inc., headquartered in Fairport, New York Fairport is a village located in the Town of Perinton which is part of Monroe County, New York. It is a suburb 9 miles outside of Rochester, and adjacent to East Rochester (W), Pittsford (SW), and Penfield (N). The village is often called the "Jewel of the Erie Canal". , is a leader in the production, marketing, and distribution of beverage alcohol products in North America and the United Kingdom. The company markets leading brands of imported beers, wines, spirits, cider and bottled water, and is a leading drinks wholesaler in the United Kingdom. The company can be found on the Internet at http://www.cbrands.com. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion