Constellation Brands Statement Regarding Discussions with DOJ
2013-02-20 23:16:45 -
VICTOR, N.Y., Feb. 20, 2013 - Constellation Brands, Inc. (NYSE: STZ and STZ.B),
Anheuser-Busch InBev (Euronext: ABI; NYSE: BUD), Grupo Modelo, S.A.B. de C.V.
(BMV: GMODELOC), and Crown Imports LLC are engaged in discussions with the U.S.
Department of Justice seeking to resolve the Department of Justice's litigation
challenging AB InBev's proposed acquisition of the remaining stake in Grupo
Modelo that it does not already own. In connection with such discussions, the
parties and the Department of Justice have agreed to jointly approach the court
to request a stay of all litigation proceedings until March 19, 2013. There can
be no assurance that the discussions will be successful.
Constellation believes that the revised transaction resolves the concerns raised
in the DOJ's complaint.
About Constellation Brands
Constellation Brands is the world's leading premium wine company that achieves
success through an unmatched knowledge of wine consumers, storied brands that
suit varied lives and tastes, and more than 4,400 talented employees worldwide.
With a broad portfolio of widely admired premium products across the wine, beer
and spirits categories, Constellation's brand portfolio includes Robert Mondavi,
Clos du Bois, Kim Crawford, Inniskillin, Franciscan Estate, Mark West, Ruffino,
Simi, Estancia, Corona Extra, Black Velvet Canadian Whisky and SVEDKA Vodka.
Constellation Brands (NYSE: STZ and STZ.B) is a S&P 500 Index and Fortune 1000®
company with more than 100 brands in our portfolio, sales in about 100 countries
and operations in approximately 40 facilities. The company believes that
industry leadership involves a commitment to our brands, to the trade, to the
land, to investors and to different people around the world who turn to our
products when celebrating big moments or enjoying quiet ones. We express this
commitment through our vision: to elevate life with every glass raised. To learn
more about Constellation, visit the company's website at www.cbrands.com.
Angela Howland Blackwell: 585-678-7141
Cheryl Gossin: 585-678-7191
Patty Yahn-Urlaub: 585-678-7483
Bob Czudak: 585-678-7170
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Constellation Brands Inc via Thomson Reuters ONE