CANADA: Constellation gets anti-trust ok on Vincor

By | 11 April 2006

Constellation Brands has been given final clearance by Canadian competition authorities for its acquisition of wine producer Vincor International.

The Investment Review Division of Industry Canada and Canada's Competition Bureau have confirmed that no further filings or approvals will be necessary.

The US wine giant had its improved C$36.50 (US$31.05) bid accepted by Vincor's board of directors last week (3 April), after months of negotiations.

Constellation was granted initial approval and given a 'no action' letter from the Competition Bureau, in November last year. The company now does not expect any regulatory obstacle to halt the Vincor transaction.

To seal approval, Constellation has agreed to support the growth of Vincor's Canadian business domestically and internationally, maintain existing wineries, warehouses, vineyards and Wine Rack retail shops in Canada, and keep virtually the same management teams at those facilities.

Vincor's shareholder vote on the acquisition is scheduled for 1 June, with the transaction scheduled for closure within a week of this date.

Sectors: Wine

Companies: Constellation

View next/previous articles

Currently reading -

CANADA: Constellation gets anti-trust ok on Vincor

There are currently no comments on this article

Be the first to comment on this article

Related articles

UK: Constellation to launch new wine in UK

Constellation Europe is to launch a new wine brand in the UK. Four Emus, from South Australia, will retail around of GBP5.99 and be bottled in screwcap.

UK: Pernod, Allied, Constellation... & Diageo?

Speculation over the weekend has suggested that Constellation may have to bid over 700p a share for Allied Domecq.

UK: Constellation begins Allied courting

A consortium led by Constellation Brands has made a tentative approach for Allied Domecq.

just-drinks tagline

Not a member? Join here

Decrease font sizeDecrease font sizeDecrease font size Increase font sizeIncrease font sizeIncrease font size Comment on this article Email this to a friend Print this page