VICTOR, N.Y., July 10, 2018 (GLOBE NEWSWIRE) --
Constellation Brands, Inc. (NYSE:STZ) (NYSE:STZ.B), a leading
beverage alcohol company, announced today its purchase of Four
Corners Brewing LLC ("Four Corners"), reinforcing its strategy to
lead the high-end in the U.S. beer market. Grounded in Texas roots
and heritage, this high-performing, dynamic and bicultural
(Hispanic and American) brand produces beer that's refreshing, big
on flavor and complements Constellation's existing portfolio. With
flagship brands like Local Buzz Honey-Rye Golden Ale and El Chingón
IPA, Four Corners will join Constellation's Craft &
Specialty Beer Group.
Four Corners was founded in 2012 by longtime
friends George Esquivel, Greg Leftwich and Steve Porcari, who set
out to create a Dallas brewery that would elevate their hometown
and revitalize their city's neighborhoods. Four Corners brews an
entire portfolio of authentic, delicious and sessionable beers
accompanied by one-of-a-kind branding inspired by their Oak Cliff
roots. Four Corners' standard of brewing will remain unchanged
because the existing management team made up of Esquivel, Leftwich
and Porcari, along with their current employees, will continue
delivering the same innovative and fresh flavors consumers enjoy
today.
"We like to say that Four Corners Brewing is our
collective beer journey, and partnering with Constellation
continues that journey by opening amazing possibilities of where
our brand and company can go,"said Four Corners co-founder George
Esquivel. "We're proud Texas brewers, and we've always had intent
of sharing our brews and our story with as many people as possible.
We know Constellation Brands is the right partner to help us do
that."
Sales have grown five-fold since 2014, and the
brewery expanded capacity from 8,000 barrels in 2016 to 25,000
barrels in 2017. Four Corners has won multiple local awards in
their short history for both brewing and branding. Most notably,
the Four Corners team won D
Magazine's 2015 Editors' Choice Award for Best Brewery.
The brewery was also awarded top honors from The Dallas Society of
Visual Communications in 2015 winning gold for packaging design and
gold for Judge's Choice.
"Four Corners brings a culture that mixes
adventure and innovation with elements of heritage and tradition,"
said President and Chief Operating Officer Bill Newlands,
Constellation Brands. "It's a compelling opportunity for
Constellation because Four Corners' bicultural inspired flavors and
branding capitalize on one of the hottest trends in beer - Hispanic
influenced products. George, Greg and Steve have created beers that
are big on flavor, refreshing and pair well with bold Texas
cuisine, while creating a brand that embraces and reflects the
diversity of its people. We're excited to help them take the brand
further."
Constellation Brands and Four Corners' team of
employees will work together, with its co-founders, running the
day-to-day operations. Terms of the transaction were not
disclosed.
About Four Corners Brewing
Co.
Four Corners Brewing Company is a local Dallas business that
creates and distributes an entire portfolio of unique, delicious
beers accompanied by one-of-a-kind branding inspired by their
Dallas roots. Four Corners was founded in 2012 by George Esquivel,
Greg Leftwich, and Steve Porcari after the three met during a local
homebrewer competition in Dallas, TX. Four Corners has won multiple
awards in their short history for both brewing and branding.
Forward-Looking
Statements
This news release contains forward-looking
statements. The word "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 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. All
forward-looking statements speak only as of the date of this news
release. Constellation Brands 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 and uncertainties associated
with ordinary business operations, the forward-looking statements
contained in this news release are subject to other risks and
uncertainties disclosed from time-to-time in Constellation Brands,
Inc.'s filings with the Securities and Exchange Commission,
including its Annual Report on Form 10-K for the fiscal year ended
February 28, 2018, which could cause actual future performance to
differ from current expectations.
About Constellation
Brands
Constellation Brands (NYSE:STZ) (NYSE:STZ.B), a Fortune 500®
company, is a leading international producer and marketer of beer,
wine and spirits with operations in the U.S., Mexico, New Zealand,
Italy and Canada. Constellation is the No. 3 beer company in the
U.S. with high-end, iconic imported brands such as Corona Extra,
Corona Light, Modelo Especial, Modelo Negra and Pacifico. The
company's beer portfolio also includes Ballast Point, one of the
most awarded craft brewers in the U.S., and Funky Buddha Brewery.
In addition, Constellation is the world leader in premium wine,
selling great brands that people love, including Robert Mondavi,
Clos du Bois, Kim Crawford, Meiomi, Mark West, Black Box, Ruffino
and The Prisoner. The company's premium spirits brands include
SVEDKA Vodka, Casa Noble Tequila and High West Whiskey.
Based in Victor, N.Y., the company believes that
industry leadership involves a commitment to brand building, our
trade partners, the environment, our investors and to consumers
around the world who choose our products when celebrating big
moments or enjoying quiet ones. Founded in 1945, Constellation has
grown to become a significant player in the beverage alcohol
industry with more than 100 brands in its portfolio; about 40
wineries, breweries and distilleries; and approximately 10,000
talented employees. We express our company vision: to elevate life
with every glass raised.
To learn more, follow us on
Twitter @cbrands and visit www.cbrands.com.
MEDIA CONTACTS |
INVESTOR RELATIONS CONTACTS |
Mike McGrew 773-251-4934
| Amy
Martin 585-678-7141
Four Corners | George
Esquivel 469-236-8728 |
Patty
Yahn-Urlaub 585-678-7483 | Bob Czudak 585-678-7170 |
Photos accompanying this announcement are
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A PDF accompanying this announcement is available
at
http://resource.globenewswire.com/Resource/Download/4f220932-d49b-4126-896a-856e4f3bf187
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announcement is distributed by Nasdaq Corporate Solutions on behalf
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The issuer of this announcement warrants that they are solely
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information contained therein.
Source: Constellation Brands, Inc via Globenewswire
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