Fairport, New York, June 8, 1999 -- Canandaigua Brands, Inc. (NASDAQ: CBRNA and CBRNB), announced today that on June 4, 1999, the Company completed the purchase of all the outstanding capital stock of Franciscan Vineyards, Inc., and related vineyards and assets. Also, on June 4, 1999, the Company completed its purchase of all of the outstanding capital stock of Simi Winery, Inc. These acquisitions position Canandaigua as a major player in the premium wine market. The Franciscan and Simi operations will be managed together as a separate division of Canandaigua Brands.
The Franciscan purchase includes the Franciscan Oakville Estate (Napa Valley), Estancia (Monterey and Alexander Valley) and Mt. Veeder (Napa Valley) fine wines, related wineries, equipment and inventory; the distribution rights to Veramonte (Casablanca Valley, Chile) and Quintessa (Napa Valley); land and vineyards in the prestigious Napa Valley, Alexander Valley and Monterey appellations of California; as well as a majority interest in the Veramonte winery and land and vineyards in Chile's premier appellation, the Casablanca Valley. The Simi Winery purchase includes the winery, equipment, vineyards, inventory and worldwide ownership of the Simi brand name.
Canandaigua Brands, Inc., headquartered in Fairport, New York, is a leader in the production, marketing and distribution of beverage alcohol products in North America and the United Kingdom. The Company markets more than 180 premier brands, including imported beers, wines, spirits, cider and bottled water.