Appointment marks key step toward company’s ambition to become #1 in fine wine, top 5 in cult/luxury wine, and create a tightly curated and fast-growing craft spirits portfolio

SAN FRANCISCO, CA JUNE 28, 2021 Constellation Brands, Inc. (NYSE: STZ and STZ.B), a leading beverage alcohol company, today announced the promotion of Matt McHargue to Senior Vice President, Fine Wine & Craft Spirits division. In March 2021, the company announced the creation of a standalone, vertically integrated fine wine and craft spirits business unit to support its ambition to be the high-end wine and craft spirits category leader.

In this role, McHargue will drive the vision and strategy for building and growing the company’s fine wine and craft spirits business, while building a best-of-class organization and establishing category-leading capabilities in brand building, general and brand management and omni-channel commercial capabilities across direct-to-consumer e-commerce, direct-to-consumer hospitality, 3-tier e-commerce and wholesale sales.

“I am pleased to congratulate Matt on his promotion and to partner with him to drive our fine wine and craft spirits portfolio vision,” said Hanson. “Matt brings a luxury mindset, deep category knowledge, strong leadership and general management capabilities and a passion for our vision that we’re confident will enable him to lead us to success as we strive to meaningfully inflect our portfolio toward the high-end. I look forward to working with him and the team as we build a category-leading fine wine and craft spirits portfolio and continue to accelerate growth for our consumer-focused wine and spirits business.”

McHargue is an accomplished commercial leader with approximately 15 years’ experience in beverage alcohol, including over 11 years as a member of the Constellation Brands team. He has served in this role in an interim capacity since March 2021, focused on standing up the new division and defining brand strategies across the portfolio. Prior to this role, he led wine and spirits sales for Constellation’s Mid-Atlantic region, following over two years as Director of W&S Commercial Planning. He has 7 years of field sales experience within CBI, following employment with both Southern Glazer’s Wine & Spirits and Republic National Distributing Company. McHargue is a Certified Specialist of Wine and is WSET Certified Level 3 with Distinction. He has a bachelor’s degree in Finance from the University of South Florida.

“I am excited to take on this new role and partner with Robert and the team to stand up our fine wine and craft spirits organization and drive our ambitious vision,” said McHargue. “Constellation continues to prove its intention of driving a bold and innovative agenda that puts consumers at the center and shapes the category, and I am eager to drive this aspect of its strategic vision.”

Constellation launched its wine and spirits business transformation in 2019 and has evolved its portfolio into a focused set of higher-end brands aligned with consumer preferences. The portfolio continues to outpace higher-end wine and spirits segments, primarily driven by its “Power Brands” at the greater than $11 price point including Kim Crawford, Meiomi, The Prisoner Wine Company and High West. The company began its Digital Transformation in 2020 and aspires to be the strongest direct-to-consumer and digital commerce business in the category. The company continues to pursue the long-term consumer-led premiumization trend and is committed to its ambition to become #1 in fine wine, top 5 in cult/luxury wine, and create a tightly curated and fast-growing craft spirits portfolio.

At Constellation Brands (NYSE: STZ and STZ.B), our mission is to build brands that people love because we believe sharing a toast, unwinding after a day, celebrating milestones, and helping people connect, are Worth Reaching For. It’s worth our dedication, hard work, and the bold calculated risks we take to deliver more for our consumers, trade partners, shareholders, and communities in which we live and work. It’s what has made us one of the fastest-growing large CPG companies in the U.S. at retail, and it drives our pursuit to deliver what’s next.

Today, we are a leading international producer and marketer of beer, wine, and spirits with operations in the U.S., Mexico, New Zealand, and Italy. Every day, people reach for our high-end, iconic imported beer brands such as Corona Extra, Corona Light, Corona Premier, Modelo Especial, Modelo Negra, and Pacifico, and our high-quality premium wine and spirits brands, including the Robert Mondavi Brand Family, Kim Crawford, Meiomi, The Prisoner Brand Family, SVEDKA Vodka, Casa Noble Tequila, and High West Whiskey.

But we won’t stop here. Our visionary leadership team and passionate employees from barrel room to boardroom are reaching for the next level, to explore the boundaries of the beverage alcohol industry and beyond. Join us in discovering what’s Worth Reaching For.

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Alex Wagner

Matt McHargue

SVP Fine Wine & Craft Spirits

Wine & Spirits Division