Constellation Brands gets approval to acquire Vincor International Inc.
Constellation Brands intends to support the growth of Vincor's Canadian business domestically and internationally.
25/11/05 Constellation Brands, Inc. has been notified by the Investment Review Division of Industry Canada that it has received approval for the company's acquisition of Vincor International Inc. In addition, Constellation Brands today also received a "no action" letter from Canada's Competition Bureau, further clearing the way for the acquisition.
The statutory waiting period in the United States under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 has expired so that the Act poses no barrier to Constellation Brands proceeding with the acquisition. Constellation Brands does not expect to encounter any regulatory barriers to close the transaction to acquire Vincor.
During its review, under the Investment Canada Act, Constellation Brands agreed to a number of negotiated enforceable commitments consistent with its intentions to grow Vincor's business. These commitments assisted the Minister of Industry in determining that the investment is of net benefit to Canada.
Constellation Brands intends to support the growth of Vincor's Canadian business domestically and internationally. Its management has also provided commitments regarding the maintenance of all Vincor's wineries, warehouses and vineyards in Canada, as well as to maintain virtually the same management teams at those facilities. Upon successful completion of the transaction, Constellation Brands plans to integrate Vincor into its international wine business as expeditiously as possible.
Constellation Brands, Inc. is a leading international producer and marketer of beverage alcohol brands with a broad portfolio across the wine, spirits and imported beer categories. Well-known brands in Constellation's portfolio include: Corona Extra, Corona Light, Pacifico, Modelo Especial, Negra Modelo, St. Pauli Girl, Tsingtao, Black Velvet, Fleischmann's, Mr. Boston, Paul Masson Grande Amber Brandy, Chi-Chi's, 99 Schnapps, Ridgemont Reserve 1792, Effen Vodka, Stowells, Blackthorn, Almaden, Arbor Mist, Vendange, Woodbridge by Robert Mondavi, Hardys, Nobilo, Alice White, Ruffino, Robert Mondavi Private Selection, Blackstone, Ravenswood, Estancia, Franciscan Oakville Estate, Simi, Robert Mondavi Winery brands and Opus One.
