VICTOR, N.Y., Sept. 22, 2021 – Constellation Brands, Inc. (NYSE: STZ and STZ.B), a leading beverage alcohol company, announced the company’s plan to move its global headquarters from Victor, N.Y., to the Aqueduct Building campus located at 50 East Broad Street, downtown Rochester, N.Y.
“A move to downtown Rochester provides opportunity to recruit and attract from a broad and diverse talent pool from the region that will help us achieve our long-term business ambitions, while also contributing to the positive momentum and vibrancy growing in the city today,” said Bill Newlands, president and chief executive officer, Constellation Brands. “We look forward to continuing to foster the economic development and job creation in Rochester for years to come.”
“We have been a proud member of the Rochester community and surrounding area for more than 75 years, and remain committed to maintaining our presence locally,” said Rob Sands, executive chair of Constellation’s Board of Directors. “We believe this move will foster collaboration within the company and the community while contributing to Rochester’s revitalization efforts.”
The company, which will have nearly 400 employees working in the City of Rochester, will move into 170,000 square feet of space at the Aqueduct campus. The construction and renovations are tentatively scheduled to start mid-to-late 2022 and are estimated to be ready for occupancy in spring 2024. Constellation’s move to this location is one of the major cornerstone projects of the ROC the Riverway program which consolidates more than two dozen transformational projects along the Genesee River to restore and contemporize Rochester’s riverfront as a destination hub for entertainment, businesses, and outdoor recreation.
“Constellation has a long history of supporting the community as evidenced by the Sands family and Constellation Brands’ generous contributions to local hospitals, theaters, and non-profit organizations,” said Rochester Mayor Lovely Warren. “We are excited to have Constellation Brands call downtown home and look forward to the prosperity the company and its employees will bring to this central location of the city.”
“Constellation Brands’ exciting decision to expand its regional operations and establish its new headquarters in downtown Rochester will help to further advance our efforts to create new, good-paying jobs and a thriving city center,” Governor Kathy Hochul said. “Downtown Rochester’s Innovation Zone is already home to some of the most talent-rich companies in the world. This transformative project at the historic Aqueduct Building will also help to maximize our $50 million ROC the Riverway efforts, which are reimagining and transforming the waterfront along the beautiful Genesee River, helping Rochester to thrive for generations to come."
Added Monroe County Executive Adam Bello: “By moving their global headquarters to Rochester, Constellation Brands recognizes the benefits of doing business in Monroe County and the opportunities we offer to innovate, grow and recruit new talent. This is a tremendous win for our economy. Constellation and the Sands family have a long history as a positive force in our community and I welcome the company to the Aqueduct Building as we look forward to the continued transformation of downtown through the ROC the Riverway initiative.”
Constellation Brands will continue to have a significant presence in Ontario County, N.Y., where the company was founded, with approximately 200 employees in the office building the company owns, located on North Bloomfield Road in Canandaigua, N.Y. The company recently completed a number of renovations to enhance the space, including technology upgrades, energy efficiency improvements, building infrastructure modernization and a number of functional and cosmetic upgrades throughout the interior and exterior of the 66,000 square foot building. This building is home to Finance, IT, Facilities, Transportation, and Insights & Analytics departments.
Greater Rochester is one of the most productive regions in the country, ranking third in college degrees per capita and #1 for degrees in STEM fields, and is outperforming its peers in terms of attracting talent and innovative businesses.
Source: US Dept of Education, Rochester Entrepreneurial Ecosystem Assessment
This news release contains forward-looking statements. All statements other than statements of historical fact are 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. These statements may relate to 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, such forward-looking statements.
The forward-looking statements are based on management's current expectations and should not be construed in any manner as a guarantee that such results will in fact occur or will occur on any contemplated timetable. All forward-looking statements speak only as of the date of this news release and 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 and uncertainties associated with ordinary business operations, the forward-looking statements contained in this news release are subject to other risks and uncertainties, including the accuracy of all projections and other factors and uncertainties disclosed from time-to-time in Constellation Brands’ filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended February 28, 2021, which could cause actual future performance to differ from current expectations.
ABOUT CONSTELLATION BRANDS
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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