CONSTELLATION BRANDS PROVIDES UPDATE ON MEXICO BREWERY OPERATIONS IN THE MIDST OF COVID-19 OUTBREAK
April 08 2020 - 8:30AM
Constellation Brands, Inc. (NYSE: STZ and STZ.B), a leading
beverage alcohol company, today announced additional steps it is
taking to reduce its brewery production activities in Mexico to a
level that safeguards the environment and avoids irreversible
impact to its operations. This move is consistent with actions
taken by other brewers in Mexico and will help ensure the company’s
ability to restore operations once Mexico’s federal government
lifts restrictions placed upon the business community in response
to the COVID-19 outbreak.
“The safety, health and well-being of our employees, business
partners and surrounding communities remains our top priority, and
our hearts go out to those impacted by this terrible virus,” said
Bill Newlands, President and Chief Executive Officer at
Constellation Brands. “We are taking these additional steps after
gaining more clarity related to the Mexican government’s response
to this health and economic crisis. These most recent actions are
in addition to aggressive steps the company had already implemented
to keep our team members and visitors to our facilities safe.”
“Over the past several weeks, we’ve shifted resources to
accelerate production of high-volume products and we’ve built
substantial product supply across our warehouse and distribution
network in the U.S.,” Newlands continued. “We remain confident in
our ability to continue meeting the needs of U.S. consumers and do
not expect any near-term service disruptions to retailers or
consumers.”
FORWARD-LOOKING STATEMENTS This 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, plans and objectives of management,
and the supply of the company’s 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 BRANDS At
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.comAmy Martin 585-678-7141 /
amy.martin@cbrands.com |
Patty Yahn-Urlaub 585-678-7483
/ patty.yahn-urlaub@cbrands.comBob 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/cc085f75-de74-4404-a2a7-2d42b461c5c4
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