FAIRPORT, N.Y., March 14 /PRNewswire/ -- Constellation Brands, Inc. (NYSE: STZ and STZ.B) today announced the completion of its public offering of 1,900,000 shares of its Class A Common Stock at a price of $67.00 per share. All of the shares were sold by the Company.
The net proceeds of this offering will be used to repay borrowings under the Company's revolving line of credit, which were incurred to partially finance the acquisition of the Turner Road Vintners' wine business, and for general corporate purposes.
Constellation Brands, Inc., is a leader in the production and marketing of beverage alcohol brands in North America and the United Kingdom and is a leading independent drinks wholesaler in the United Kingdom. As the second largest supplier of wine, the second largest importer of beer and the fourth largest supplier of distilled spirits, Constellation Brands, Inc., is the largest single-source supplier of these products in the United States. With its broad product portfolio, composed of brands in all major beverage alcohol categories, Constellation believes it is distinctly positioned to satisfy an array of consumer preferences. Leading brands in Constellation's portfolio include: Franciscan Oakville Estate, Simi, Estancia, Almaden, Arbor Mist, Talus, Vendange, Black Velvet, Fleischmann's, Schenley, Ten High, Stowells of Chelsea, Blackthorn and the number one imported beer, Corona Extra. SOURCE Constellation Brands, Inc.
CONTACT: Mark Maring, VP - Investor Relations, 716-218-2169, for