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VICTOR, N.Y., Aug 4, 2015 - (ACN Newswire) - Constellation Brands (NYSE: STZ and STZ.B), a leading beverage alcohol company, announced today that it has completed the acquisition of the Meiomi luxury wine brand. The transaction includes the Meiomi trademark and related inventories of pinot noir and chardonnay. In July, Constellation Brands announced its intent to purchase the brand from Copper Cane LLC.
"I'm excited to welcome Meiomi wines into our brand portfolio. It is a natural fit," said Jay Wright, president Wine and Spirits, Constellation Brands. "Constellation has a long history of effectively integrating brands like Meiomi into our sales, marketing and operations infrastructure. The successful integration of Mark West is a great example of how our team can quickly transition a brand, maintain quality and continue to drive growth."
Joe Wagner, a fifth-generation California winemaker, will maintain a winemaker consultant role with Constellation for the next two vintages. "I look forward to working with the Constellation team to continue to deliver the top-quality wines that Meiomi is known for," Wagner commented.
Meiomi pinot noir is ranked number one in dollar sales growth across all pinot noir price points in the latest IRI 12-week period.
Jared Fix, chief marketing officer, wines, said, "Meiomi's impressive growth demonstrates how the brand is already resonating with consumers. The well-balanced, rich and vibrant profile will complement our high-quality pinot noirs in other price segments."
Meiomi wine is created from a blend of California's preeminent pinot noir coastal regions - Sonoma County, Monterey County and Santa Barbara County. Drawing on the success of its pinot noir, Meiomi introduced chardonnay to its portfolio in spring 2014 - an addition that has bolstered additional growth for the brand.
About Constellation Brands
Constellation Brands (NYSE: STZ and STZ.B) is a leading international producer and marketer of beer, wine and spirits with operations in the U.S., Canada, Mexico, New Zealand and Italy. In 2014, Constellation was one of the top performing stocks in the S&P 500 Consumer Staples Index. Constellation is the number three beer company in the U.S. with high-end, iconic imported brands including Corona Extra, Corona Light, Modelo Especial, Negra Modelo and Pacifico. Constellation is also the world's leader in premium wine, selling great brands that people love including Robert Mondavi, Clos du Bois, Kim Crawford, Rex Goliath, Mark West, Franciscan Estate, Ruffino and Jackson-Triggs. The company's premium spirits brands include SVEDKA Vodka and Black Velvet Canadian Whisky.
Based in Victor, N.Y., the company believes that industry leadership involves a commitment to brand-building, our trade partners, the environment, our investors and to consumers around the world who choose our products when celebrating big moments or enjoying quiet ones. Founded in 1945, Constellation has grown to become a significant player in the beverage alcohol industry with more than 100 brands in its portfolio, sales in approximately 100 countries, about 40 facilities and approximately 7,600 talented employees. We express our company vision: to elevate life with every glass raised. To learn more, visit www.cbrands.com.
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Source: Constellation Brands Inc via Globenewswire
Topic: Press release summary
Source: Constellation Brands
https://www.acnnewswire.com
From the Asia Corporate News Network
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