USA: Constellation Increases Presence in Scotland with Acquistion of Forth Wines Limited
Constellation Brands, Inc. (NYSE: STZ, STZ.B) today announced that its Matthew Clark division has reached agreement to purchase 100% of the stock of Forth Wines Limited, a wine and spirit wholesaler operating primarily in Scotland. The total purchase price, including the assumption of debt, is approximately 5.6 million British pounds sterling, or $8.1 million based on an exchange rate of approximately $1.45 per British pound sterling.Peter Aikens, President and Chief Executive Officer of Matthew Clark plc, said, "The addition of the Forth Wines team further strengthens our position as the United Kingdom's largest independent wholesaler. This transaction will makes us the leading provider of wine to the on-premise market in Scotland."In its most recent fiscal year ended April 30, 2000, Forth Wines Limited reported gross sales of 27 million British pounds sterling ($39 million) and earnings before interest, taxes, depreciation and amortization (EBITDA) of approximately 0.6 million British pounds sterling ($0.9 million). After synergies, EBITDA is expected to exceed 1.0 million British pounds sterling ($1.45 million).Constellation Brands, Inc., headquartered in Fairport, New York, is a leader in the production, marketing, and distribution of beverage alcohol products in North America and the United Kingdom. The Company markets leading brands of imported beers, wines, spirits, cider and bottled water, and is a leading drinks wholesaler in the United Kingdom. The Company can be found on the Internet at
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
- The post-Brexit winners and losers - Analysis
- What Brexit means for drinks industry? - Analysis
- What does Brexit mean for AB InBev's SAB deal?
- Why has Heineken made a Formula 1 U-turn?
- Interview - Seedlip founder, Ben Branson
- Carlsberg to close UK distribution arm
- Pernod Ricard exec shuffle - Denis O'Flynn leaves
- Major spirits M&A remains out of sight - analyst
- C&C Group will be a Brexit victim - analyst
- Pernod Ricard gives Beefeater packaging revamp
- Adultifying Soft Drinks; Capitalizing on rising adult demand for non-alcoholic beverages
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends
- Global RTD insights - market forecasts, product innovation and consumer trends
- Spirits and Wine: Corporate Overview