Latest news with #HighWest
Yahoo
3 days ago
- Business
- Yahoo
Constellation Brands Closes Wine Transaction With The Wine Group to Focus on a Portfolio of Exclusively Higher-Growth, Higher-Margin Brands
Retained portfolio for Constellation includes a collection of award-winning, iconic brands, predominantly priced $15 and above and in growing segments and channels ROCHESTER, N.Y., June 02, 2025 (GLOBE NEWSWIRE) -- Constellation Brands (NYSE: STZ), a leading beverage alcohol company, announced today that it has closed its previously announced transaction with The Wine Group to divest1 primarily mainstream wine brands and associated inventory, facilities, and vineyards from its wine portfolio. Brands divested to The Wine Group include Woodbridge, Meiomi, Robert Mondavi Private Selection, Cook's, SIMI, and J. Rogét sparkling wine. Constellation's retained wine portfolio consists of a collection of highly regarded wines from top regions around the world, predominantly priced $15 and above. This includes iconic Napa Valley brands Robert Mondavi Winery, Schrader, Double Diamond, To Kalon Vineyard Company, Mount Veeder Winery, and The Prisoner Wine Company; the My Favorite Neighbor family of wine brands from Paso Robles; Kim Crawford from New Zealand—producer of the #1 Sauvignon Blanc in the U.S.2; acclaimed Tuscan producer Ruffino Estates and Ruffino Prosecco; sought-after gems like Sea Smoke from Santa Barbara's Santa Rita Hills AVA, Lingua Franca from Oregon's Willamette Valley, and more. This outstanding collection is complemented by Constellation's award-winning craft spirits portfolio including High West whiskey, Nelson's Green Brier whiskey, Mi CAMPO tequila, and Casa Noble tequila. 'We are pleased to have completed this transaction and look forward to executing against our repositioned portfolio, focused exclusively on the higher-end that more closely aligns to consumer-led premiumization trends which we believe will enable us to help deliver improved performance within this segment of our business over time,' said Bill Newlands, President and CEO, Constellation Brands. 'We appreciate the dedication of our internal teams, and the support and collaboration from The Wine Group and our business partners to help us close this transaction and seek to ensure as smooth a transition as possible.' Following the completion of the transaction, Constellation's fiscal year 2026 outlook and its outlook for fiscal year 2027 and fiscal year 2028 provided on April 9, 2025 remain unchanged. 1 We sold and, in certain instances, exclusively licensed the trademarks of a portion of our wine and spirits business, primarily centered around our mainstream wine brands and associated inventory, wineries, vineyards, offices, and facilities 2 #1 in dollar sales, Circana, total U.S. Multi-Outlet + Convenience, 52 weeks ended May 18, 2025 ABOUT CONSTELLATION BRANDS Constellation Brands (NYSE: STZ) is a leading international producer and marketer of beer, wine, and spirits with operations in the U.S., Mexico, New Zealand, and Italy. Our mission is to build brands that people love because we believe elevating human connections is Worth Reaching For. It's worth our dedication, hard work, and calculated risks to anticipate market trends and deliver for our consumers, shareholders, employees, and industry. This dedication is what has driven us to become one of the fastest-growing, large CPG companies in the U.S. at retail, and it drives our pursuit to deliver what's next. Every day, people reach for brands from our high-end, imported beer portfolio anchored by the iconic Corona Extra and Modelo Especial, a flavorful lineup of Modelo Cheladas, and favorites like Pacifico and Victoria; our exceptional wine brands including The Prisoner Wine Company, Robert Mondavi Winery, Kim Crawford, Schrader Cellars, and Lingua Franca; and our craft spirits brands such as Casa Noble Tequila and High West Whiskey. As an agriculture-based company, we strive to operate in a way that is sustainable and responsible. Our ESG strategy is embedded into our business, and we focus on serving as good stewards of the environment, investing in our communities, and promoting responsible beverage alcohol consumption. We believe these aspirations in support of our longer-term business strategy allow us to contribute to a future that is truly Worth Reaching For. To learn more, visit and follow us on X, Instagram, and LinkedIn. FORWARD-LOOKING STATEMENTS 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, including related to executing against Constellation's repositioned wine portfolio, Constellation's efforts to align with consumer-led premiumization trends and to deliver improved performance within its wine and spirits segment over time, the transition of the divested brands and related inventory, facilities, and vineyards, and Constellation's outlook for fiscal years 2026, 2027, and 2028, 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 any of the events anticipated by the forward-looking statements will in fact occur or will occur on the timetable contemplated hereby. All forward-looking statements speak only as of the date of this news release and Constellation does not undertake any 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 any purchase price or other post‐closing adjustments, 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, 2025, which could cause actual future performance to differ from current expectations. MEDIA CONTACTS INVESTOR RELATIONS CONTACTS Amy Martin 585-678-7141 / Carissa Guzski 315-525-7362 / Joseph Suarez 773-551-4397 / Snehal Shah 847-385-4940 / David Paccapaniccia 585-282-7227 / A downloadable PDF copy of this news release can be found here.
Globe and Mail
09-04-2025
- Business
- Globe and Mail
Constellation Brands Repositions Wine and Spirits Business to a Portfolio of Exclusively Higher-Growth, Higher-Margin Brands Aligned to Consumer-Led Premiumization Trends
ROCHESTER, N.Y., April 09, 2025 (GLOBE NEWSWIRE) -- Constellation Brands, Inc. (NYSE: STZ), a leading beverage alcohol company, announced today that it has signed an agreement with The Wine Group to divest primarily mainstream wine brands and related vineyards and facilities from its wine portfolio. The transaction is subject to the satisfaction of certain closing conditions, including the receipt of regulatory approval, and is expected to close immediately following the end of Constellation's first quarter of its fiscal year 2026. Constellation's retained wine portfolio will consist of a collection of highly regarded wines from top regions around the world, predominantly priced $15 and above. This includes iconic Napa Valley brands Robert Mondavi Winery, Schrader, Double Diamond, To Kalon Vineyard Company, Mount Veeder Winery, and The Prisoner Wine Company; the My Favorite Neighbor family of wine brands from Paso Robles; Kim Crawford from New Zealand—producer of the #1 Sauvignon Blanc in the U.S. 2; acclaimed Tuscan producer Ruffino Estates and Ruffino Prosecco; sought-after gems like Sea Smoke from Santa Barbara's Santa Rita Hills AVA, Lingua Franca from Oregon's Willamette Valley, and more. This outstanding collection is complemented by Constellation's award-winning craft spirits portfolio including High West whiskey, Nelson's Green Brier whiskey, Mi CAMPO tequila, Casa Noble tequila, and others. 'This transaction reflects our multi-year strategy to reconfigure our business, resulting in a portfolio of higher-end wine and craft spirits brands that are aligned to evolving consumer preferences and help bolster our competitive position,' said Bill Newlands, President and CEO, Constellation Brands. 'Concentrating our wine and spirits portfolio in higher-growth segments remains an important element of our overall business strategy and complements our higher-end beer portfolio, aiming to ensure we continue to participate in more consumer occasions across beer, wine, and spirits.' Brands to be divested to The Wine Group include Woodbridge, Meiomi, Robert Mondavi Private Selection, Cook's, SIMI, and J. Rogét sparkling wine, along with associated inventory, facilities, and vineyards. In preparing to manage a more focused wine and spirits business following the anticipated close of the transaction, and to help ensure the company's enterprise-wide structure, resources, and investments are aligned to help optimize the performance of the business and drive accelerated growth, the company is undergoing a review of its organizational structuring. This review is anticipated to deliver net annualized cost savings in excess of $200 million by fiscal year 2028. The company expects the majority of this work to be completed within its fiscal year 2026. Additional commentary and financial information related to the transaction will be included as part of Constellation Brands fiscal year and fourth quarter 2025 earnings release and financial tables, as well as other supporting materials, posted on Wednesday, April 9, 2025, after the close of the U.S. markets on the company's investor relations website at 1 We entered into a definitive agreement to fully divest and, in certain instances, exclusively license the trademarks of a portion of our wine and spirits business, primarily centered around our remaining mainstream wine brands and associated inventory, wineries, vineyards, offices, and facilities 2 #1 in dollar sales, Circana, total U.S. Multi-Outlet + Convenience, 52 weeks ended March 23, 2025 ABOUT CONSTELLATION BRANDS Constellation Brands (NYSE: STZ) is a leading international producer and marketer of beer, wine, and spirits with operations in the U.S., Mexico, New Zealand, and Italy. Our mission is to build brands that people love because we believe elevating human connections is Worth Reaching For. It's worth our dedication, hard work, and calculated risks to anticipate market trends and deliver more for our consumers, shareholders, employees, and industry. This dedication is what has driven us to become one of the fastest-growing, large CPG companies in the U.S. at retail, and it drives our pursuit to deliver what's next. Every day, people reach for our high-end, iconic imported beer brands such as those in the Corona brand family like the flagship Corona Extra, Modelo Especial and the flavorful lineup of Modelo Cheladas, Pacifico, and Victoria; our fine wine and craft spirits brands including The Prisoner Wine Company, Robert Mondavi Winery, Casa Noble Tequila, and High West Whiskey; and our premium wine brands such as Kim Crawford. As an agriculture-based company, we strive to operate in a way that is sustainable and responsible. Our ESG strategy is embedded into our business and we focus on serving as good stewards of the environment, investing in our communities, and promoting responsible beverage alcohol consumption. We believe these aspirations in support of our longer-term business strategy allow us to contribute to a future that is truly Worth Reaching For. To learn more, visit and follow us on X, Instagram, and LinkedIn. FORWARD-LOOKING STATEMENTS 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, including related to the repositioning of Constellation's wine and spirits business, the anticipated closing of the transaction, the satisfaction of certain closing conditions including receipt of regulatory approval, the expected timetable for closing the transaction, Constellation's efforts to align with evolving consumer preferences, bolster its competitive position, optimize performance, and drive accelerated growth, the outcome of the organizational structuring review, including the timing and amounts associated with anticipated net annualized cost savings, 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 any of the events anticipated by the forward-looking statements will in fact occur or will occur on the timetable contemplated hereby. All forward-looking statements speak only as of the date of this news release and Constellation does not undertake any 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 completion of the transaction on the expected terms, conditions, and timetable, regulatory requirements, the outcome of the organizational structuring review, the actual amount of net annualized cost savings achieved, 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 29, 2024 and its Quarterly Report on Form 10-Q for the fiscal quarter ended November 30, 2024, which could cause actual future performance to differ from current expectations.
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The Independent
20-02-2025
- Business
- The Independent
High West: The whiskey outlaw thriving in Utah's land of temperance
Nestled in the snow-capped mountains of Park City, Utah, High West Distillery is both a whiskey brand and a contradiction. It's a craft distillery in a state with some of the strictest alcohol laws in the country. It's a Western saloon in a town better known for après ski than cowboy boots. And despite only opening its doors in 2006, it has become something of an institution – a place where whiskey lovers, tourists and locals converge over a dram of something distinctly High West. Whiskey in the land of temperance Utah and whiskey have always had a complicated relationship. When Mormon pioneers arrived in the state in the mid-19th century, Brigham Young strongly discouraged alcohol consumption, although it was never outright banned. The state saw its fair share of underground drinking establishments, especially in mining towns like Park City, which catered to a rougher crowd than the teetotaling settlers preferred. By the time national Prohibition rolled around in 1920, Utah was already flirting with restrictive alcohol laws. Ironically, in 1933, Utah became the final and deciding vote that repealed Prohibition in the United States – one last rebellious swing before settling into decades of tight control over liquor sales. Even now, Utah's liquor laws remain uniquely restrictive. The state maintains a monopoly on liquor stores, and cocktails served in bars must be measured precisely. Up until a few years ago, bartenders were forced to mix drinks behind an opaque barrier known as the 'Zion Curtain' to prevent customers from witnessing the scandalous act of alcohol preparation. It is in this environment that High West emerged, not just surviving but thriving. The rise of High West Founded by former biochemist David Perkins and his wife Jane, High West began as an ambitious idea sparked during a trip to a Kentucky distillery. The couple relocated to Park City in 2004, drawn by the area's outlaw history and stunning landscape. In 2007, they fired up their first still in a modest 250-gallon operation, setting up shop in an old livery stable and garage in the heart of town. What made High West different was its approach to whiskey-making. Unlike purists who only bottle what they distill themselves, High West embraced blending, sourcing high-quality whiskey from other distilleries while developing its own house style. This strategy allowed them to release compelling and complex whiskeys early on, rather than waiting years for their own barrels to mature. The gamble paid off. Today, High West operates both its original Saloon in downtown Park City and a larger distillery in Wanship, Utah, about 25 minutes away. The Saloon remains a major draw, doubling as a gastro-distillery where visitors can sip whiskey flights alongside elk chilli and bison burgers. Located at the base of the Quittin' Time ski run, it is the only ski-in distillery in the world – perhaps the ultimate après ski spot. The art of blending Whiskey purists might scoff at the idea of blending, but High West has turned it into an art form. The distillery works with sourced whiskeys, marrying different ages, mash bills and styles to create something greater than the sum of its parts. Their core lineup reflects this philosophy, each bottle telling a different story. Take Double Rye – a fiery, spice-driven whiskey that balances young and old rye. The younger component (two years old) delivers a sharp, botanical punch, while the older rye (distilled by High West itself) rounds it out with barrel sweetness and depth. It's a rye built for cocktails but bold enough to sip straight. Then there's Rendezvous Rye, High West's first whiskey release and still one of its most respected. With a high-rye mash bill that harks back to pre-Prohibition styles, it's a blend of medium-aged rye and High West's own pot-stilled rye. It's full of baking spices, dried fruit and a touch of herbal complexity – smooth yet assertive, a proper tribute to classic American rye. And finally, Campfire, High West's most divisive and intriguing expression. The name says it all – it's a blend of bourbon, rye and peated Scotch whisky, bringing together sweetness, spice and smoke in a way that shouldn't work but somehow does. It's a whiskey for those who appreciate both a good Islay Scotch and a well-aged American whiskey, its smoky finish lingering like embers from a dying fire. An institution in Park City If High West were just about whiskey, it would still be impressive. But what makes it stand out is its sense of place. The brand has woven itself into the fabric of Park City, a town where skiers, film buffs (thanks to Sundance) and whiskey lovers all cross paths. The High West Saloon is a must-visit, offering not just whiskey but a lively atmosphere that feels both rustic and polished. Their restaurant and bar programme are taken as seriously as their distilling, making it one of the best places to eat and drink in town. Meanwhile, their distillery in Wanship provides a scenic escape, complete with tours, tastings and an emphasis on sustainability – High West has committed to donating $1m to conservation efforts in the American West over the next three years. In a state that once tried to outlaw booze altogether, High West has built a whiskey empire. They've done it not by fighting Utah's drinking culture but by embracing its contradictions – blending past and present, tradition and innovation, the ruggedness of the West with the refinement of a well-made spirit. The result? A whiskey brand that feels as at home in a saloon as it does on a ski slope, proving that sometimes, the best things come from unlikely places. The best High West whiskeys to try in the UK High West Bourbon A bourbon that stands out not for its gimmicks, but for its balance. High West Bourbon blends different mash bills to create a whiskey that is rich yet bright, with notes of honey nougat, cornbread and a hint of lemon zest. The nose offers light caramel and vanilla, while the finish lingers with pecan pie and caramel apples. It's smooth enough to sip but versatile in cocktails, making it a reliable staple in any whiskey collection. Features: Specs: Type: Blended straight bourbon whiskey Mash bill: 75% corn, 21% rye, 4% malted barley (sourced from MGP) 84% corn, 8% rye, 8% malted barley (High West) Other undisclosed whiskey components Age: Minimum 2 years ABV: 46% (92 proof) Double Rye Sharp, spicy, and full of personality, Double Rye is exactly what its name promises – a double dose of rye intensity. On the nose, there's an explosion of mint, pine and cinnamon, like stepping into an old-time apothecary. The palate is equally assertive, with clove, black pepper and a touch of honey rounding out the heat. The youthful rye delivers a fresh, almost botanical zing, while the older component tames it just enough. Perfect for a Manhattan, but if you like a bit of bite in your whiskey, sip it neat and brace yourself. Specs: Type: Blended straight rye whiskey Mash bill: Age: Minimum 2 years A more elegant and measured take on rye, Rendezvous is all about balance. The nose is rich with warm spices, dried fruit and a whisper of cocoa. The palate leans into classic rye territory – clove, orange peel and graham cracker, but with an underlying smoothness that makes it dangerously drinkable. There's a herbal, almost tea-like quality to it, which keeps things interesting. It's easy to see why this was High West's first big hit – it's rye whiskey at its most charismatic, with just enough edge to keep it from feeling too polished. Features: Specs: Type: Blended straight rye whiskey Mash bill: ABV: 46% (92 proof) Campfire Love it or hate it, Campfire is one of the most intriguing whiskeys on the market. The nose is an unexpected mix of caramel, sandalwood and the unmistakable wisp of peat smoke. The first sip is a rollercoaster – sweet bourbon richness, spicy rye kick and then a slow, creeping wave of smoky Scotch that lingers long after you swallow. The peat isn't overwhelming, but it's unmistakable, like the scent of a distant bonfire drifting through the air. It's not for everyone, but if you enjoy both American whiskey and smoky Scotch, it's a fascinating middle ground. Best enjoyed on a cold night, preferably around an actual campfire. Features: Specs: Type: Blended whiskey (bourbon, rye and scotch) Mash bill: Age: Varies ABV: 46% (92 proof) Buy High West Campfire
