USA: Canandaigua Brands Inc. Announces Name Change to Constellation Brands, Inc.
Canandaigua Brands Inc., (NYSE: CDB, CDB.B) today announced its intention to change its corporate name to Constellation Brands, Inc. (NYSE: STZ, STZ.B). The name Constellation, which is expected to become effective September 20, 2000 pending shareholder approval, better reflects the scope of a company that is the largest single-source supplier of beer, wines and distilled spirits in the U.S. Leading U.S. brands include Corona Extra, Black Velvet, Almaden, Arbor Mist and Estancia. In the United Kingdom, the company is a leading source of wine, cider and bottled water. The Constellation Companies - Barton, Canandaigua Wine, Franciscan Estates and Matthew Clark - will retain their names and current operating structure, enabling the companies to maintain their closeness to their respective customers and markets to enable quick response to changing market conditions. The company, with annual gross sales exceeding $3 billion, has grown from $213 million in gross sales in 1991, which represents an average annual compound growth rate of 35 percent. "The new name, serves as a more apt description of a company that has grown in both the breadth and depth of its product lines as well as its geographic reach," said Richard Sands, Chairman, President and Chief Executive Officer. "Through our diversified, balanced portfolio of leading brands, we bring consumers in the U.S., Canada and the U.K. a number of leading brands, enabling the company to meet their tastes and preferences across several market and demographic sectors. The company has experienced dramatic expansion in size and profitability over the past several years. We intend to continue this positive pattern through a combination of internal growth and acquisitions, all supported by our Constellation Companies, brands and people who provide us with the stability, market presence and customer responsiveness that have made us one of the premier companies in our industry." Leading U.S. and Canadian brands include:
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-drinks gives you the widest beverage market coverage.
Paid just-drinks members have unlimited access to all our exclusive content - including 16 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Olly Wehring, editor of just-drinks
- Craft spirits shake-out will be just the beginning
- How Treasury is rewriting the rule book - Comment
- The decline of the flagship beer brand - Comment
- Job cuts not the whole story at AB InBev - Comment
- Coca-Cola India suspends bottling operations
- Diageo brands need "fixing and nurturing" - TWE
- Diageo revamps Gordon's gin bottle in UK
- Craft Brew Alliance poised for AB InBev takeover?
- SAB shareholders granted AB InBev vote split
- Pernod deal rescues Corby's FY
- The Next Seven Big Beverage Markets
- Global rum insights - market forecasts, product innovation and consumer trends
- Carlsberg AS (CARL B) - Financial and Strategic SWOT Analysis Review
- Global RTD insights - market forecasts, product innovation and consumer trends
- Adultifying Soft Drinks; Capitalizing on rising adult demand for non-alcoholic beverages