VICTOR, N.Y., June 17, 2017 - (ACN Newswire) - Constellation Brands, Inc. (NYSE: STZ and STZ.B), a leading premium wine company, announced that it has enhanced its fine wine portfolio with the purchase of Schrader Cellars' iconic wines. The Schrader Cabernet Sauvignon portfolio, sourced from the premier vineyards of Napa Valley, including the famed Beckstoffer To Kalon Vineyard in Oakville, is the highest-rated American Cabernet Sauvignon portfolio with a total of nineteen 100-point ratings from Wine Advocate, Wine Spectator and jamessuckling.com. The agreement includes vineyard sourcing, current inventories, and eight Schrader Cabernet Sauvignons.
"The journey for Schrader Cellars and Constellation Brands is just beginning," said Schrader's award-winning winemaker Thomas Brown, who will work with the Constellation team and continue to lead all aspects of the winemaking from vineyard to bottle. "With Constellation's expertise and high- quality vineyards, the potential for these wines is endless."
"Knowing Constellation's reputation for valuing quality, integrity and customer focus as much as we do, there was no question in my mind that they are the perfect steward of Schrader wines moving forward," said founder Fred Schrader. "We are impressed by their talented, dedicated team and passionate winemakers. I look forward to working with Constellation to take great care of the wines I've dedicated a significant part of my life cultivating."
The decision to collaborate with Constellation for the future of Schrader's fine wines was facilitated by Carol Schrader and Constellation Brands Chief Operating Officer, Bill Newlands, who have worked together in past wine endeavors.
Founded in 1998, Schrader Cellars' namesake wines, Schrader CCS and Schrader Old Sparky, both sourced from the Beckstoffer To Kalon Vineyard, were awarded 100 points from Robert Parker, of Wine Advocate for three consecutive vintages and are the only wines in the history of the Wine Spectator blind tasting program to achieve perfect 100-point scores upon release. The portfolio also includes Schrader Beckstoffer To Kalon Vineyard Cabernet Sauvignon, Schrader GIII Beckstoffer Georges III Cabernet Sauvignon, Schrader LPV Beckstoffer Las Piedras Vineyard Cabernet Sauvignon, Schrader RBS Beckstoffer To Kalon Vineyard Cabernet Sauvignon, Schrader T6 Beckstoffer To Kalon Vineyard Cabernet Sauvignon, and Schrader Colesworthy Beckstoffer Las Piedras Vineyard Cabernet Sauvignon. The superior-quality limited-production wines are sold direct-to-consumer through a mailing list with an exclusive offering available in fine dining establishments. The collection will join Constellation's newly established fine wine organization, TRU Estates and Vineyards - a team specialized in servicing luxury wine consumers and customers.
Constellation's Senior Vice President of Wine and Spirits Production, Sam Glaetzer, who grew up in a multi-generational winemaking family dating back to some of the earliest recorded viticulturists in Australia, admires the contributions the Schraders have made to the world of wine. "The Schraders have created something truly unique and unparalleled in wine," said Glaetzer. "Their unwavering commitment to quality vineyards and winemaking has built a portfolio of world-class wines with an elite and loyal consumer following. We are thrilled to be working with Thomas, Fred and Carol to help cultivate and preserve these incredible fine wines."
Constellation Brands and the Schrader team will continue to work together to deliver the same iconic wines and experience the Schrader consumers know and love today. With Thomas Brown at the winemaking helm, Schrader's standard of excellence in winemaking will remain unchanged, and founders Fred and Carol Schrader will continue to share their passion for the portfolio and their tradition of building exceptional customer relationships.
Terms of the transaction were not disclosed.
About Constellation Brands
Constellation Brands (NYSE: STZ and STZ.B), a Fortune 500(R) company, is a leading international producer and marketer of beer, wine and spirits with operations in the U.S., Mexico, New Zealand, Italy and Canada. Constellation is the No. 3 beer company in the U.S. with high-end, iconic imported brands such as Corona Extra, Corona Light, Modelo Especial, Modelo Negra and Pacifico. The company's beer portfolio also includes Ballast Point, one of the most awarded craft brewers in the U.S. In addition, Constellation is the world leader in premium wine, selling great brands that people love, including Robert Mondavi, Clos du Bois, Kim Crawford, Meiomi, Mark West, Franciscan Estate, Ruffino and The Prisoner. The company's premium spirits brands include SVEDKA Vodka, Casa Noble Tequila and High West Whiskey.
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, about 40 facilities and approximately 9,000 talented employees. We express our company vision: to elevate life with every glass raised. To learn more, visit www.cbrands.com.
About Schrader Cellars
Fred Schrader began his life as a vintner with one defining goal in mind - to create benchmark Cabernet Sauvignon from the most notable vineyards in the Napa Valley. In the early vintages, Fred sourced grapes from a renowned site in the southern region of the Napa Valley. Then in 2000, a fortuitous barrel tasting brought Fred to the doorsteps of Andy Beckstoffer and he soon began sourcing fruit from the magnificent Beckstoffer To Kalon Vineyard. It is also the same year that he hired an enthusiastic young winemaker, Thomas Brown.
Today, Schrader Cellars is enduringly committed to the unparalleled quality of the Beckstoffer Vineyards and now sources grapes from the Beckstoffer Georges III Vineyard and Beckstoffer Las Piedras Vineyards, in addition to the legendary Beckstoffer To Kalon Vineyard. With its historic critical acclaim from famed critics Robert Parker, Wine Advocate, James Laube, Wine Spectator, and James Suckling, Schrader is widely regarded as the preeminent producer of world-class Cabernet Sauvignons in the New World and since its inception has never stopped in its pursuit of greatness.
This news release contains forward-looking statements. The word "expect" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Those statements may relate to Constellation Brands' business strategy, future operations, prospects, plans and objectives of management, as well as information concerning expected actions of third parties. All forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by the forward-looking statements. All forward-looking statements speak only as of the date of this news release. Constellation Brands undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
In addition to risks associated with ordinary business operations, the forward-looking statements contained in this news release are subject to other risks and uncertainties disclosed from time to time in Constellation Brands, Inc.'s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended Feb. 28, 2017, which could cause actual future performance to differ from current expectations.
585-678-7141 / [email protected]
707-225-4621 / [email protected]
Constellation Brands logo: http://hugin.info/143788/R/2113923/804213.jpg
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Constellation Brands Inc via Globenewswire
Topic: Press release summary
From the Asia Corporate News Network
Copyright © 2018 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.