Constellation's acquisition of The Robert Mondavi Corporation is complete. The company announced yesterday (22 December) that Mondavi shareholders overwhelmingly approved the combination at the annual shareholder meeting, with more than 80% of the votes cast by the Class A shareholders and 94% of the votes cast by the Class B shareholders favouring the adoption of the merger agreement.

"Mondavi is now a wholly-owned subsidiary of Constellation," the company confirmed.

In connection with the completion of the transaction, Mondavi's Class A common stock ceased trading on NASDAQ at the close of markets yesterday.

Mondavi's Class A common shareholders will receive US$56.50 per share in cash and Mondavi's Class B common shareholders will receive US$65.82 per share in cash.

"Today opens a new chapter for Constellation and the Robert Mondavi brand," said Constellation Brands chairman and CEO Richard Sands. "With the successful completion of this landmark transaction, Constellation offers an unmatched wine portfolio with expanded fine wine offerings, in addition to our broad portfolio of leading brands in the spirits and imported beer categories and unparalleled global distribution capabilities.

"This is a winning combination that preserves and enhances the heritage of both companies and will produce outstanding wines for generations to come," continued Sands. "We welcome Mondavi's dedicated and experienced employees to Constellation as we continue our tradition of industry leadership, and we're eager to expand the Mondavi wine presence around the world."