Constellation’s wine and spirits sales fall 7% 9th April, 2021 by Nicola Carruthers
Svedka owner Constellation Brands saw full-year sales for its wine and spirits unit fall 7%, with a double-digit decline predicted for fiscal 2022.
The 30% ABV zero-sugar Svedka Pure Infusion range was released last year
In the 12 months to February 2021, Constellation Brands’ wine and spirits business saw net sales reach US$2.54 billion, down from US$2.72bn year on year. Operating income fell 12% to US$622.4 million.
In total, the company’s net sales rose 3% to US$8.6bn for fiscal 2021. The company’s biggest business, beer, increased net sales by 8% during the period.
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Constellation Brands Completes Wine and Spirits Transactions With E. & J. Gallo to Focus Portfolio on Consumer Premiumization Trends
Constellation Brands Completes Wine and Spirits Transactions With E. & J. Gallo to Focus Portfolio on Consumer Premiumization Trends
VICTOR, N.Y., Jan. 05, 2021 Constellation Brands, Inc. (NYSE: STZ and STZ.B), a leading beverage alcohol company, announced today that it has closed its transaction with E. & J. Gallo Winery to divest a portion of Constellation’s wine and spirits portfolio principally priced at $11 retail and below, including certain related facilities located in California, New York, and Washington state. The aggregate transaction price was approximately $810 million, consisting of approximately $560 million in cash paid at closing and the opportunity to receive up to $250 million in earnout payments if brand performance targets are met over a two-year period after closing. The transac
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VICTOR, N.Y., Jan. 12, 2021 (GLOBE NEWSWIRE) Constellation Brands, Inc. (NYSE: STZ and STZ.B), a leading beverage alcohol company, announced today that it has closed its sale of the Paul Masson Grande Amber Brandy brand, related inventory, and interests in certain contracts to Sazerac for approximately $265 million, subject to certain post-closing adjustments. The closure of this sale concludes a series of transactions within our wine and spirits business designed to help accelerate revenue growth and operating margin performance by advancing our vision of building a winning portfolio of distinctive, higher-end brands, said Bill Newlands, Constellation Brands president and chief executive officer. With these transactions now behind us, our team can more fully concentrate our resources and focus behind a smaller set of more premium brands that better align with consumer premiumization trends.