CONSTELLATION BRANDS REINFORCES STRENGTH OF ITS BREWERY PRODUCTION FOOTPRINT IN MEXICO
March 24 2020 - 7:30AM
Constellation Brands, Inc. (NYSE: STZ and STZ.B), a leading
beverage alcohol company, today responded to the outcome of a
recent public consultation in Mexicali, Baja California (Mexico)
which voiced opposition to the company’s plans to build a new
brewery in the city.
“We will continue working with local authorities, government
officials and members of the community on next steps related to our
brewery construction project in Mexicali and options elsewhere in
Mexico,” said Bill Newlands, president and chief executive officer
at Constellation Brands. “In the meantime, it’s important to note
that we have ample capacity, based on current growth forecasts and
production capabilities at our Nava brewery and soon to be
completed expansion in Obregon, to continue fueling the growth of
our beer business in the medium-term. We’ve had a positive,
mutually beneficial relationship with Mexico for more than 30 years
and we fully expect this to continue.”
Since 2013, Constellation has made significant investments in
its production operations throughout Mexico to support the robust
growth of its import beer business. The company will leverage these
investments and other options to continue meeting the needs of U.S.
consumers over the long-term.
FORWARD-LOOKING STATEMENTSThis news release
contains forward-looking statements. All statements other than
statements of historical fact are forward-looking statements. These
statements may relate to business strategy, future operations,
prospects, and plans and objectives of management, the company’s
brewing capacity, and the supply of its products available for
purchase by its consumers, as well as information concerning the
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.
The forward-looking statements are based on management's current
expectations and should not be construed in any manner as a
guarantee that such results will in fact occur. All forward-looking
statements speak only as of the date of this news release and
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,
including the accuracy of all projections and 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 February 28, 2019, as
supplemented by the company’s Quarterly Report on Form 10-Q for the
fiscal quarter ended May 31, 2019, which could cause actual future
performance to differ from current expectations.
ABOUT CONSTELLATION BRANDSAt Constellation
Brands (NYSE: STZ and STZ.B), our mission is to build brands that
people love because we believe sharing a toast, unwinding after a
day, celebrating milestones, and helping people connect, are Worth
Reaching For. It’s worth our dedication, hard work, and the bold
calculated risks we take to deliver more for our consumers, trade
partners, shareholders, and communities in which we live and work.
It’s what has made us one of the fastest-growing large CPG
companies in the U.S. at retail, and it drives our pursuit to
deliver what’s next.
Today, we are a leading international producer and marketer of
beer, wine, and spirits with operations in the U.S., Mexico, New
Zealand, and Italy. Every day, people reach for our high-end,
iconic imported beer brands such as Corona Extra, Corona Light,
Corona Premier, Modelo Especial, Modelo Negra, and Pacifico, and
our high-quality premium wine and spirits brands, including the
Robert Mondavi brand family, Kim Crawford, Meiomi, The Prisoner
brand family, SVEDKA Vodka, Casa Noble Tequila, and High West
Whiskey.
But we won’t stop here. Our visionary leadership team and
passionate employees from barrel room to boardroom are reaching for
the next level, to explore the boundaries of the beverage alcohol
industry and beyond. Join us in discovering what’s Worth Reaching
For.
To learn more, follow us on Twitter @cbrands and visit
www.cbrands.com.
MEDIA CONTACTS |
INVESTOR RELATIONS CONTACTS |
Mike McGrew 773-251-4934 /
michael.mcgrew@cbrands.com |
Patty Yahn-Urlaub 585-678-7483
/ patty.yahn-urlaub@cbrands.com |
Amy Martin 585-678-7141 /
amy.martin@cbrands.com |
Bob Czudak 585-678-7170 /
bob.czudak@cbrands.com |
A downloadable PDF copy of this news release
enhanced with multimedia links can be found
here: http://ml.globenewswire.com/Resource/Download/c926458b-7206-4409-b886-34907fcf2c74
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