~An Award-Winning Brand, Casa Noble Produces Organic Handcrafted Super Premium Tequilas~
VICTOR, N.Y., August 13, 2014 - Constellation Brands (NYSE: STZ and STZ.B), a leading beverage alcohol company, today announced that it will acquire the Casa Noble tequila brand. The transaction includes the Casa Noble trademark and related assets. It is expected to close in September 2014 and is subject to customary closing conditions. Terms of the purchase were not disclosed.
The tequila category continues to grow steadily, with super premium and above tequila growing 10% in the U.S. market in 2013 according to DISCUS. Casa Noble super premium tequila is a high-quality brand that posts consistent, double-digit growth. Constellation Brands has a successful track record of integrating high-potential brands into its portfolio and amplifying their strong marketplace momentum.
"I'm excited for the opportunity to integrate Casa Noble tequila into our existing portfolio," said Rob Sands, chief executive officer, Constellation Brands. "As the first super premium spirits brand we'll add to our portfolio, Casa Noble is a natural fit. It complements our successful Mexican beer brands and we intend to leverage our existing strong routes-to-market, as well as our marketing expertise and deep knowledge of the Hispanic consumer," he added.
Casa Noble tequila is made from organic blue agave grown in the hills of Jalisco, Mexico - a region known for its unique soil that produces very high quality agave. The award-winning Casa Noble family of tequilas includes Casa Noble Crystal, Reposado and Añejo as well as limited production of several other higher-end Casa Noble tequilas.
"Aligning with the world class portfolio of Constellation Brands will enable the Casa Noble brand to continue to grow its position as one of the highest rated super premium tequila brands in the market," said Otto Hoernig, CEO and Chairman of Casa Noble Holdings. "The original co-founders of Casa Noble and true tequila visionaries David Ravandi, Carlos Hernandez and Jose Hermosillo created a truly elegant brand. Together with our equity partner, Carlos Santana, we built upon the brand's integrity and commitment to quality, resulting in this new future for Casa Noble with Constellation Brands," added Hoernig.
To continue building on the early success of Casa Noble, Jose "Pepe" Hermosillo, will join the Constellation team and lead the continued development of Casa Noble overseeing the brand's operations and remaining the brand's most senior ambassador. "As a founding partner of Casa Noble, I'm looking forward to joining forces with Constellation Brands, a company with such a strong reputation for driving growth, to build this brand to its highest potential," added Hermosillo.
About Constellation Brands
Constellation Brands (NYSE: STZ and STZ.B) is a leading international producer and marketer of beer, wine and spirits with operations in the U.S., Canada, Mexico, New Zealand and Italy. In 2013, Constellation was one of the best performing stocks in the S&P 500. Constellation is the number three beer company in the U.S. with high-end, iconic imported brands including Corona Extra, Corona Light, Modelo Especial, Negra Modelo and Pacifico. Constellation is also the world's leader in premium wine selling great brands that people love including Robert Mondavi, Clos du Bois, Kim Crawford, Rex Goliath, Mark West, Franciscan Estate, Ruffino and Jackson-Triggs. The company's premium spirits brands include SVEDKA Vodka and Black Velvet Canadian Whisky.
Based in Victor, N.Y., the company believes that industry leadership involves a commitment to brand-building, our trade partners, the environment, our investors and to consumers around the world who choose our products when celebrating big moments or enjoying quiet ones. Founded in 1945, Constellation has grown to become a significant player in the beverage alcohol industry with more than 100 brands in its portfolio, sales in approximately 100 countries, about 40 facilities and approximately 6,300 talented employees. We express our company vision: to elevate life with every glass raised. To learn more, visit www.cbrands.com.
This news release contains forward-looking statements. The word "expect" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Those statements may relate to Constellation Brands' business strategy, future operations, prospects, plans and objectives of management, as well as information concerning expected actions of third parties. All forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by the forward-looking statements. There can be no assurance that any transaction discussed in this release will occur or will occur on the timetable contemplated hereby. All forward-looking statements speak only as of the date of this news release. Constellation Brands undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
In addition to risks associated with ordinary business operations, the forward-looking statements contained in this news release are subject to other risks and uncertainties, including completion of the announced transaction, the accuracy of all projections, and other factors and uncertainties disclosed from time to time in Constellation Brands, Inc.'s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended Feb. 28, 2014, which could cause actual future performance to differ from current expectations.