Constellation Brands reports company developments tied to its beer, wine and spirits business and its publicly traded Class A common stock. The company produces and markets beverage alcohol brands across operations in the U.S., Mexico, New Zealand and Italy, with portfolios that include Modelo Especial, Corona Extra, Modelo Cheladas, Pacifico, Victoria, The Prisoner Wine Company, Robert Mondavi Winery, Kim Crawford, Mi CAMPO Tequila and High West Whiskey.
Recurring news covers fiscal results, operating performance, financial outlook, brand portfolio references, capital-structure actions and shareholder voting matters. Company updates also include debt-market activity, such as senior note issuance or redemption notices, and governance developments such as executive succession and board-related disclosures.
Constellation Brands (NYSE: STZ) has announced the divestiture of the Paul Masson Grande Amber Brandy brand to Sazerac Company for approximately $255 million. This transaction, subject to FTC review, is expected to close in the second quarter of fiscal 2021. Additionally, Constellation will divest the Nobilo Wine brand to E. & J. Gallo Winery for $130 million, also contingent on regulatory approvals. These moves aim to transform Constellation's wine and spirits business and align with its strategic objectives.
Constellation Brands (NYSE: STZ) announced it will report financial results for its fiscal first quarter ending May 31, 2020, on July 1, 2020, before U.S. markets open. A conference call will follow at 11:30 a.m. EDT, featuring President & CEO Bill Newlands and CFO Garth Hankinson. Interested parties can access the call by dialing +1-877-673-1771. The results will be posted on Constellation's website, providing insights into the company’s performance in the alcoholic beverage market.
Constellation Brands (NYSE: STZ) announced an amended agreement with E. & J. Gallo Winery to divest a portion of its wine and spirits portfolio. The new deal, revised to address FTC concerns, excludes the Mission Bell facility and adjusts the transaction price to approximately $1.03 billion, with $250 million contingent on future brand performance. The transaction is expected to close in the second quarter of fiscal 2021, pending FTC review. Additionally, Constellation plans to divest the Nobilo Wine brand for $130 million around the same timeframe.
Constellation Brands (NYSE: STZ) announced that CFO Garth Hankinson will present at the 2020 RBC Capital Markets Global Consumer and Retail Virtual Conference on May 27, 2020, at 11:20 a.m. EDT. The presentation will address strategic initiatives, financial metrics, and future outlook. A live webcast will be available on the company's website, with a replay accessible until June 27, 2020. Constellation Brands is a leading producer of beer, wine, and spirits, known for iconic brands like Corona and Robert Mondavi.
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Constellation Brands (NYSE: STZ), a prominent beverage alcohol company, has announced the full redemption of its outstanding 2.250% Senior Notes due 2020, totaling $700 million, effective May 27, 2020. The redemption price will include a make-whole premium of approximately $6 million, calculated as per the supplemental indenture. This strategic move highlights Constellation's focus on managing its debt effectively and optimizing its capital structure. With operations spread across the U.S., Mexico, New Zealand, and Italy, the company is recognized as the third-largest beer producer in the U.S. and a leader in higher-end wines and spirits. The announcement reflects the company’s ongoing commitment to enhancing shareholder value through prudent financial management.