Since its inception in 2006, Meiomi has quickly positioned itself as a leader in the U.S. wine industry as a differentiated, high-growth luxury brand, outperforming all other brands in its category with IRI dollar sales growth of more than 50 percent over the last 52 weeks. Meiomi pinot noir is also among the fastest growing major pinot noir brands across all price points in the latest 12-week period. Constellation Brands has a successful track record of integrating high-growth brands into its portfolio and accelerating their strong marketplace momentum.
“Meiomi complements the array of selections we offer consumers by filling a niche in our luxury portfolio,” said Jay Wright, president Wine and Spirits, Constellation Brands. “The rapid growth rate Meiomi has achieved in such a short time is evidence that the brand resonates with consumers, and we’re excited about adding it to our wine portfolio,” he added.
Wagner, a fifth-generation California winemaker, will maintain a winemaker consultant role for the next two vintages. “We are very proud of what our team and organization have accomplished with Meiomi in a relatively short timeframe,” remarked Joseph Wagner. “What began as a labor of love with only modest distribution a number of years ago, has grown to become one of the best-performing and fastest-growing brands across all categories of wine. We are pleased to have found such a great successor with which to carry on the Meiomi tradition.”
Meiomi appeals to a broad range of consumers, and is known for its vibrant, food-friendly wines that are ready to drink upon release for any occasion. Meiomi wine is richly flavored, well-balanced and stylish, with layers of complexity created from a blend of California’s preeminent pinot noir coastal regions - Sonoma County, Monterey County and Santa Barbara County. Drawing on the success of its pinot noir, Meiomi introduced chardonnay to its portfolio in spring 2014 – an addition that has bolstered additional growth for the brand.
About Constellation Brands
Constellation Brands (NYSE: STZ and STZ.B) is a leading international producer and marketer of beer, wine and spirits with operations in the U.S., Canada, Mexico, New Zealand and Italy. In 2014, Constellation was one of the top performing stocks in the S&P 500 Consumer Staples Index. Constellation is the number three beer company in the U.S. with high-end, iconic imported brands including Corona Extra, Corona Light, Modelo Especial, Negra Modelo and Pacifico. Constellation is also the world’s leader in premium wine, selling great brands that people love including Robert Mondavi, Clos du Bois, Kim Crawford, Rex Goliath, Mark West, Franciscan Estate, Ruffino and Jackson-Triggs. The company’s premium spirits brands include SVEDKA Vodka and Black Velvet Canadian Whisky.
Based in Victor, N.Y., the company believes that industry leadership involves a commitment to brand-building, our trade partners, the environment, our investors and to consumers around the world who choose our products when celebrating big moments or enjoying quiet ones. Founded in 1945, Constellation has grown to become a significant player in the beverage alcohol industry with more than 100 brands in its portfolio, sales in approximately 100 countries, about 40 facilities and approximately 7,600 talented employees. We express our company vision: to elevate life with every glass raised. To learn more, visit www.cbrands.com.
Copper Cane LLC
Copper Cane Wines & Provisions is based in Napa Valley and houses a collection of brands that are personally crafted to uphold a lifestyle of luxury and enjoyment. Owned and operated by Joseph Wagner, a fifth generation Napa Valley farmer and winemaker who found his niche in Pinot Noir after creating Belle Glos and Meiomi. Growing and sourcing grapes from cool-climate appellations along California's coastline sets the tone for the richly expressive, well-balanced wines crafted under the Copper Cane umbrella which include the brands Beran Zinfandel from Napa Valley, Carne Humana Red Blend from Napa Valley, and Elouan Pinot Noir from Oregon
Forward-Looking Statements
This news release contains 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. Those statements may relate to Constellation Brands’ 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 the forward-looking statements. There can be no assurance that any transaction between Constellation Brands and Copper Cane LLC will occur or will occur on the timetable contemplated hereby. All forward-looking statements speak only as of the date of this news release. 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 associated with ordinary business operations, the forward-looking statements contained in this news release are subject to other risks and uncertainties, including completion of the announced transaction, the accuracy of all projections, and other factors and uncertainties disclosed from time to time in Constellation Brands, Inc.’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended Feb. 28, 2015, which could cause actual future performance to differ from current expectations.
