CONSTELLATION BRANDS COMMENTS ON RECENT U.S. BORDER CLOSURES AND MARKET TRENDS
March 23 2020 - 7:30AM
Constellation Brands, Inc. (NYSE: STZ and STZ.B), a leading
beverage alcohol company, today commented on the impact of recent
northern and southern border closures in the U.S. and impact of the
COVID-19 virus on U.S. market trends.
“Our hearts go out to those impacted by this terrible virus,”
said Bill Newlands, president and chief executive officer at
Constellation Brands. “Now, more than ever, it is imperative that
the public and private sectors in the U.S. and both countries work
together to keep residents safe and healthy, while continuing to
support our global economy, supply chain, and the many jobs our
respective citizens depend on to make ends meet.”
Newlands continued, “Importantly, recent decisions to close the
northern and southern borders of the U.S. do not impact commercial
traffic, which is essential to enabling supply chain operations and
the building of critical inventories needed to meet the needs of
our communities. This will prove helpful as we and other companies
in the consumer product goods space work to provide a bit of
comfort in this otherwise difficult time.”
Newlands further commented, “In this regard, we’ve taken steps
to bolster support of local off-premise retailers and distributors
to meet increased consumer demand as purchasing shifts from
on-premise establishments such as bars and restaurants to
off-premise businesses such as grocery stores and convenience
stores. We’ve seen IRI volume in off-premise accounts for our beer
business increase more than 30 percent in the most recent 4-week
period versus their 52-week trends. Our teams remain committed to
supporting the needs of local consumers, retailers, distributors,
and the economies they help bolster in this critical time. We will
announce additional measures to further support our industry and
communities in the coming days.”
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/89fcc21e-183b-4524-8822-38e1aa573c44
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