Constellation Brands, Inc. (NYSE:STZ) (NYSE:STZ.B), a leading
beverage alcohol company, announced today its purchase of Four
Corners Brewing LLC ("Four Corners"), reinforcing its strategy to
lead the high-end in the U.S. beer market. Grounded in Texas roots
and heritage, this high-performing, dynamic and bicultural
(Hispanic and American) brand produces beer that’s refreshing, big
on flavor and complements Constellation’s existing portfolio. With
flagship brands like Local Buzz Honey-Rye Golden Ale and El Chingón
IPA, Four Corners will join Constellation’s Craft &
Specialty Beer Group.
Four Corners was founded in 2012 by longtime friends George
Esquivel, Greg Leftwich and Steve Porcari, who set out to create a
Dallas brewery that would elevate their hometown and revitalize
their city’s neighborhoods. Four Corners brews an entire portfolio
of authentic, delicious and sessionable beers accompanied by
one-of-a-kind branding inspired by their Oak Cliff roots. Four
Corners’ standard of brewing will remain unchanged because the
existing management team made up of Esquivel, Leftwich and Porcari,
along with their current employees, will continue delivering the
same innovative and fresh flavors consumers enjoy today.
“We like to say that Four Corners Brewing is our collective beer
journey, and partnering with Constellation continues that journey
by opening amazing possibilities of where our brand and company can
go,”said Four Corners co-founder George Esquivel. “We’re proud
Texas brewers, and we’ve always had intent of sharing our brews and
our story with as many people as possible. We know Constellation
Brands is the right partner to help us do that.”
Sales have grown five-fold since 2014, and the brewery expanded
capacity from 8,000 barrels in 2016 to 25,000 barrels in 2017. Four
Corners has won multiple local awards in their short history for
both brewing and branding. Most notably, the Four Corners team won
D Magazine’s 2015 Editors’ Choice Award for Best Brewery. The
brewery was also awarded top honors from The Dallas Society of
Visual Communications in 2015 winning gold for packaging design and
gold for Judge’s Choice.
“Four Corners brings a culture that mixes adventure and
innovation with elements of heritage and tradition,” said President
and Chief Operating Officer Bill Newlands, Constellation Brands.
“It’s a compelling opportunity for Constellation because Four
Corners’ bicultural inspired flavors and branding capitalize on one
of the hottest trends in beer – Hispanic influenced products.
George, Greg and Steve have created beers that are big on flavor,
refreshing and pair well with bold Texas cuisine, while creating a
brand that embraces and reflects the diversity of its people. We’re
excited to help them take the brand further.”
Constellation Brands and Four Corners’ team of employees will
work together, with its co-founders, running the day-to-day
operations. Terms of the transaction were not disclosed.
About Four Corners Brewing Co.Four Corners
Brewing Company is a local Dallas business that creates and
distributes an entire portfolio of unique, delicious beers
accompanied by one-of-a-kind branding inspired by their Dallas
roots. Four Corners was founded in 2012 by George Esquivel, Greg
Leftwich, and Steve Porcari after the three met during a local
homebrewer competition in Dallas, TX. Four Corners has won multiple
awards in their short history for both brewing and branding.
Forward-Looking Statements
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. These statements
may relate to 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, such 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 and uncertainties 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 February 28, 2018,
which could cause actual future performance to differ from current
expectations.
About Constellation BrandsConstellation Brands
(NYSE:STZ) (NYSE:STZ.B), a Fortune 500® 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., and Funky Buddha Brewery. 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, Black Box, 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 wineries, breweries
and distilleries; and approximately 10,000 talented employees. We
express our company vision: to elevate life with every glass
raised.
To learn more, follow us on Twitter @cbrands and visit
www.cbrands.com.
MEDIA CONTACTS |
INVESTOR RELATIONS CONTACTS |
Mike
McGrew 773-251-4934 | Amy
Martin 585-678-7141Four Corners | George
Esquivel 469-236-8728 |
Patty
Yahn-Urlaub 585-678-7483 | Bob
Czudak 585-678-7170 |
Photos accompanying this announcement are available at
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A PDF accompanying this announcement is available at:
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