Key Developments: Constellation Brands Inc (STZb.N)

STZb.N on New York Stock Exchange

24 Dec 2014
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Latest Key Developments (Source: Significant Developments)

Constellation Brands Inc prices offering of senior notes
Monday, 20 Oct 2014 09:05pm EDT 

Constellation Brands Inc:Says that it priced the public offering of $800 million aggregate principal amount of Senior Notes, consisting of $400 million of 3.875 pct. Senior Notes due 2019 and $400 million of 4.750 pct. Senior Notes due 2024.Says the notes will be senior obligations that rank equally with all of Constellation's other senior unsecured indebtedness, and will be guaranteed by the subsidiaries of Constellation that are guarantors under Constellation's senior credit facility.Closing of the offering is expected to occur on Nov. 3, 2014.Says constellation intends to use the net proceeds from the offering to redeem prior to maturity its 8 3/8 pct. Senior Notes due 2014 in the aggregate principal amount of $500 million and for general corporate purposes.Merrill Lynch, Pierce, Fenner & Smith Incorporated, J.P. Morgan Securities LLC, Rabo Securities USA, Inc., Wells Fargo Securities, LLC, and SunTrust Robinson Humphrey, Inc. are acting as the joint book-running managers.Says Merrill Lynch, Pierce, Fenner & Smith Incorporated is acting as the representative of the underwriters.  Full Article

Constellation Brands Inc reaffirms FY 2015 EPS guidance
Thursday, 2 Oct 2014 07:30am EDT 

Constellation Brands Inc:Sees FY 2015 comparable basis diluted EPS outlook of $4.10 - $4.25.Sees FY 2015 reported basis diluted EPS outlook to $3.85 - $4.00.FY 2015 EPS of $4.24 - Thomson Reuters I/B/E/S.  Full Article

Owens-Illinois enters into joint venture and long-term supply agreement with Constellation Brands
Thursday, 2 Oct 2014 07:03am EDT 

Owens-Illinois Inc:Announces that it has agreed to enter into a 50-50 joint venture with Constellation Brands Inc.Says the joint venture will operate the glass container production plant in Nava, Mexico, that Constellation recently agreed to purchase from Anheuser-Busch Inbev (ABI).Says the plant will provide bottles exclusively for Constellation's adjacent brewery, which brews a portfolio of Mexican beer brands for export to the United States, including Corona Extra, Corona Light, Modelo Especial, Negra Modelo and Pacifico.Says O-I has agreed to enter into a long-term agreement to supply glass containers to Constellation's Nava brewery.Says supply under the agreement, primarily from O-I's plant in Waco, Texas, begins in late 2015.Says O-I is expected to supply the output from at least one furnace under this agreement.  Full Article

Constellation Brands Inc announces glass sourcing strategy and incremental five million Hectoliter Capacity Expansion at Nava Brewery in Mexico
Thursday, 2 Oct 2014 07:00am EDT 

Constellation Brands Inc:to acquire glass plant and associated warehouse, land and rail infrastructure in Nava, Mexico from Anheuser-Busch InBev for about $300 million pending U.S. Department of Justice and Mexican regulatory approvals.Agrees to enter into 50-50 joint venture with Owens-Illinois to own and operate new glass plant and to use O-I as a secondary glass supplier.Enters into long-term glass supply agreement with Vitro.Begins additional five million hectoliter production capacity expansion at Nava Brewery in Mexico.  Full Article

Constellation Brands Inc to purchase Casa Noble Tequila
Wednesday, 13 Aug 2014 08:30am EDT 

Constellation Brands Inc:Says it will acquire Casa Noble tequila brand.Transaction includes Casa Noble trademark and related assets.Says it is expected to close in Sept. 2014 and is subject to customary closing conditions.Terms of the purchase were not disclosed.  Full Article

Constellation Brands Inc raises FY 2015 EPS guidance - Conference Call
Wednesday, 2 Jul 2014 10:30am EDT 

Constellation Brands Inc:Forecasts FY 2015 comparable basis diluted EPS to be in the range of $4.10 to $4.25 per share, versus previous guidance of $3.95 to $4.15.FY 2015 EPS of $4.19 - Thomson Reuters I/B/E/S.  Full Article

Constellation Brands gives FY 2015 EPS guidance in line with analysts' estimates - Conference Call
Wednesday, 9 Apr 2014 10:30am EDT 

Constellation Brands Inc:Expects comparable basis diluted EPS to be in the range of $3.95 to $4.15 a share for FY 2015.FY 2015 EPS of $3.99 - Thomson Reuters I/B/E/S.  Full Article

Constellation Brands Inc raises FY 2014 EPS guidance; gives FY 2014 revenue guidance above analysts' estimates - Conference Call
Wednesday, 8 Jan 2014 10:30am EST 

Constellation Brands Inc:Says FY 2014 comparable basis diluted EPS to be in the range of $3.10 to $3.20 a share, versus previous guidance of $2.80 to $3.10 a share.Says strong beer business performance is driving the upward revision to FY 2014 guidance.Says for FY 2014, it is now targeting net sales growth in the high single-digits.The company reported revenue of $2.796 billion in FY 2013.FY 2014 revenue of $4.859 billion and EPS of $3.05 - Thomson Reuters I/B/E/S Estimates.  Full Article

Constellation Brands Inc Issues FY 2014 EPS Guidance In Line With Analysts' Estimates-Conference Call
Thursday, 3 Oct 2013 02:30pm EDT 

Constellation Brands Inc announced that for fiscal 2014, it expects comparable basis diluted EPS to be in the range of $2.80 to $3.10 a share. According to I/B/E/S Estimates, analysts were expecting the Company to report EPS of $2.92 for fiscal 2014.  Full Article

Grupo Modelo SAB de CV Completes Sale of Its US Business To Constellation Brands, Inc; Establishes Transition Services Agreement With Anheuser Busch Inbev SA And Constellation Brands, Inc
Friday, 7 Jun 2013 04:24pm EDT 

Grupo Modelo SAB de CV (Grupo Modelo) announced that it on June 7, 2013 it completed the sale of Grupo Modelo’s United States business to Constellation Brands, Inc (Constellation). The transaction includes the sale of Grupo Modelo’s Piedras Negras brewery, Grupo Modelo’s 50% stake in Crown Imports and perpetual rights to Grupo Modelo’s brands distributed by Crown in the United States. Constellation will now be an independent brewer and marketer of beer in the United States. Grupo Modelo, Anheuser Busch Inbev SA (AB InBev) and Constellation have established a three-year transition services agreement to ensure the smooth transition of the operation of the Piedras Negras brewery. During this timeframe, Constellation has committed to invest approximately USD 500million-USD 600 million to expand the Piedras Negras facility, which will ultimately enable it to supply 100% of Crown’s needs for the United States marketplace. This transaction is related to the combination of AB InBev and Grupo Modelo, which was completed on June 4, 2013.  Full Article

Fitch Publishes Ratings Navigator for 9 Alcoholic Beverages Companies

(The following statement was released by the rating agency) LONDON, December 02 (Fitch) Fitch Ratings has published its new Rating Navigators for Anheuser Busch InBev NV/SA, AmBev S.A., Brown Forman Corporation, Carlsberg Breweries A/S, Compania Cervecerias Unidas S.A. (CCU), Constellation Brands, Inc., Diageo plc, Molson Coors Brewing Company and SABMiller plc. These reports should be read in conjunction with the "Introducing Rating Navigators for Corporates" report dated 5 November 2014 an

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