Beverage Industry Veteran Tim Kelly Named Chief Operating Officer
FAIRPORT, N.Y., Mar 11, 2002 /PRNewswire/ -- Constellation Brands Inc. (NYSE: STZ and STZ.B) today signaled its expanded global focus by forming a new international arm, to which it appointed beverage alcohol industry veteran Tim Kelly as chief operating officer.
"We intend to double Constellation's overall sales in the next five years", said Constellation Chairman and CEO Richard Sands. "To that end we are creating Constellation International as a platform to significantly increase our worldwide exports from the United States and aggressively seek new global growth opportunities," Sands said.
Constellation International will be based in Bristol, England where Mathew Clark, Constellation's U.K. brands and wholesale business, is headquartered. "The U.K is a large market offering an excellent environment for our best U.S. wine and spirits brands and our already strong presence there will serve as a springboard to grow export sales," Sands said. "This unified approach to international business development will also allow us to more efficiently enter other export markets and better research the global beverage alcohol world for transaction opportunities," Sands added.
Tim Kelly joins Constellation International from Diageo plc, where he most recently was president of Guiness/Bass Import Co., USA and head of marketing for Guiness in Ireland. In announcing Kelly's appointment, Constellation Group President Robert Sands said, "Tim Kelly brings to Constellation a wealth of marketing and sales experience and track record of accomplishment in the beverage alcohol industry. He is an excellent leader and the right person to carry out our aggressive international expansion strategy."
About Constellation
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 third largest supplier of distilled spirits, Constellation is the largest single- source supplier of these products in the United States. In the United Kingdom, Constellation is a leading marketer of wine and the second largest producer and marketer of cider. Leading brands in Constellation's portfolio include: Franciscan Oakville Estate, Simi, Estancia, Ravenswood, Corona Extra, Modelo Especial, St. Pauli Girl, Almaden, Arbor Mist, Talus, Vendange, Alice White, Black Velvet, Fleischmann's, Schenley, Ten High, Stowells of Chelsea, Blackthorn and K.
Forward-Looking Statements
Statements set forth in this press release which are not historical facts, are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by the forward-looking statements. Any projections of future results of operations should not be construed in any manner as a guarantee that such results will in fact occur. In addition to the risks and uncertainties of ordinary business operations, the forward-looking statements of the Company contained in this press release are also subject to the following risks and uncertainties: expectations that our recent acquisitions and our joint venture will achieve certain sales projections and meet certain cost targets; the successful integration of our recent acquisitions; wholesalers and retailers may give higher priority to products of our competitors; raw material supply, production or shipment difficulties could adversely affect our ability to supply our customers; increased competitive activities in the form of pricing, advertising and promotions could adversely impact consumer demand for our products and/or result in higher than expected selling, general and administrative expenses; a general decline in alcohol consumption; increases in federal and state excise taxes on beverage alcohol products; changes in foreign exchange rates. For additional information about risks and uncertainties that could adversely affect the Company's forward-looking statements, please refer to the Company's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended February 28, 2001.
SOURCE Constellation Brands, Inc.
CONTACT: Emilio Ruocco, +1-585-419-0776, or Ginny Clark, +1-585-218-2167, both of Constellation Brands, Inc.