US: Constellation Wines unveils new structure
The US-based company said yesterday (9 January), that, under the new structure, its Constellation Wines US division will have three business units, each focusing on different areas. The units - Vintas, Icon Estates and Centerra Wine Co. - will share services such as finance, human resources and legal services, the company said.
The Vintas unit, headed by former Icon Estates president Chris Fehrnstrom, will be headquartered in San Fransisco and will focus on premium and super premium wine. Brands will include Clos du Bois, Woodbridge by Robert Mondavi, Robert Mondavi Private Selection, Blackstone, and Ravenswood.
Pacific Wine Partners' Cellar Door division will also join Vintas, bringing brands such as Hayman & Hill, Red Guitar, Barossa Valley Estate, Leasingham and Diseno. Beam Wine Estates will also become a part of Vintas, named BWE division and incorporate brands such as Geyser Peak, Buena Vista and Gary Farrell.
Pacific Wine Partners president Ben Dollard will succeed Eric Morham as senior vice president, international, while Morham will take on the role of president of Icon Estates.
Icon, based in St. Helena, CA, will continue to focus on ultra-premium and luxury brands such as Robert Mondavi Winery, Simi, Estancia, Franciscan, Kim Crawford, Ruffino and Wild Horse.
The Centerra unit, based in Canandaigua, NY, will focus on speciality, fighting varietal, value brands and imported wines. Brands will include Arbor Mist, Cook's, Paul Masson Grande Amber Brandy, Richard's Wild Irish Rose, Vendange, Banrock Station, and Inglenook. Centerra will be run by former president of North Lake Wines Tim Richenberg, who will take the presidential role.
Constellation Wines North America CEO Jose Fernandez said: "The new structure will provide greater focus and clarity as we take this amazing portfolio to market, and give us the ability to execute against a broad range of opportunities in the US wine market."
Earlier this week, the company reported that net income in the three months to the end of November leapt by 11% on the corresponding period a year earlier to US$120m or US$0.55 per share.
Constellation said net sales for the quarter fell by 27% year-on-year to $1.09bn, due primarily to a change in reporting methods for its Crown Imports and Matthew Clark joint ventures in the US and UK respectively. Organic net sales, however, were up by 11% to $1.08bn.
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