Constellation gets Clearance for Vincor Acquisition

13/04/06 Alcohol producer Constellation Brands, Inc. has received confirmation from the Investment Review Division of Industry Canada, and Canada's Competition Bureau, that no further filings or approvals are necessary in connection with the company's acquisition of Vincor International Inc. Last November Constellation Brands received approval from the Minister under the Investment Canada Act and a "no action" letter from the Competition Bureau, clearing the way for the acquisition.

The statutory waiting period in the United States under the Hart-Scott- Rodino Antitrust Improvements Act of 1976, which had been previously submitted, expired in November 2005, so that the Act poses no barrier to Constellation Brands proceeding with the acquisition. Constellation Brands does not expect that any regulatory matter will result in a barrier to closing the transaction to acquire Vincor.

During the review of the proposed transaction, under the Investment Canada Act, Constellation Brands agreed to a number of negotiated enforceable commitments consistent with its intentions to invest in and 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, vineyards and Wine Rack retail shops in Canada, as well as to maintain virtually the same management teams at those facilities.

An information circular relating to the transaction is expected to be sent to Vincor shareholders in the latter half of April, with the shareholder vote scheduled for June 1, and closing of the transaction scheduled for the first week in June 2006, subject to customary regulatory approvals and other closing conditions.