December 3, 2021

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Constellation Manufacturers Receives Clearance From the U.S. Federal Trade Fee to Shut Wine and Spirits Transaction With E. & J. Gallo, Organization Information

VICTOR, N.Y., Dec. 24, 2020 (Globe NEWSWIRE) — Constellation Manufacturers, Inc. (NYSE: STZ and STZ.B), a foremost beverage alcoholic beverages business, declared these days that the U.S. Federal Trade Fee (FTC) has accepted the proposed consent order in link with its transaction with E. & J. Gallo Winery to divest a part of Constellation’s wine and spirits portfolio principally priced at $11 retail and underneath, like specified connected amenities situated in California, New York, and Washington point out. This transaction is scheduled to shut the 7 days of January 4, 2021, upon which time final transaction details will be delivered.

The FTC’s acceptance of the proposed consent get also involves Constellation’s individual transactions with Sazerac to divest the Paul Masson Grande Amber Brandy brand and with Vie-Del Business to divest sure models applied in Constellation’s grape juice concentrate business enterprise. Furthermore, the FTC permitted Constellation’s independent but associated settlement with Gallo to divest its Nobilo wine manufacturer. These transactions will be finished in near proximity to the shut of Constellation’s larger sized transaction with Gallo.

The acceptance by the FTC satisfies all required antitrust clearances desired to be obtained for these transactions to close.

Ahead-Looking STATEMENTS
This information release includes forward-on the lookout statements. All statements other than statements of historic fact are ahead-looking statements. The word “expect” and equivalent expressions are supposed to discover ahead-hunting statements, although not all forward-searching statements contain this kind of identifying words. These statements may perhaps relate to enterprise technique, future functions, prospective buyers, programs, and aims of administration, as nicely as facts about predicted actions of 3rd events. All forward-on the lookout statements involve pitfalls and uncertainties that could result in true effects to vary materially from all those set forth in, or implied by, this kind of forward-wanting statements.

The forward-seeking statements are based on management’s current anticipations and really should not be construed in any manner as a warranty that this sort of benefits will in simple fact arise or will come about on any contemplated timetable. All forward-hunting statements communicate only as of the date of this information launch and Constellation Manufacturers undertakes no obligation to update or revise any ahead-looking statements, whether as a end result of new data, future functions or in any other case. The pending transaction concerning Constellation and E. & J. Gallo Vineyard (the “Wine and Spirits Transaction”), the beforehand announced Paul Masson Grande Amber Brandy transaction with Sazerac Investments, Inc., and the earlier introduced concentrates and substantial colour concentrate enterprise transaction with Vie-Del Corporation (collectively with the Wine and Spirits Transaction, the “Pending Transactions”) and the independent but connected pending Nobilo wine manufacturer transaction between Constellation and E. & J. Gallo Winery (the “Nobilo Transaction”), are each and every matter to the pleasure of sure closing ailments. The Nobilo Transaction is also conditioned on the completion of the Wine and Spirits Transaction. There can be no assurance that the Pending Transactions or the Nobilo Transaction will arise or will arise on the conditions, ailments or timetables contemplated hereby, that Constellation Brands will obtain any specific amount of money of transaction proceeds from the Pending Transactions or the Nobilo Transaction, or that Constellation Brands will receive any earnout (contingent thing to consider) or any specific total of earnout (contingent thing to consider).

In addition to challenges and uncertainties related with regular business functions, the ahead-looking statements contained in this news launch are issue to other pitfalls and uncertainties, like completion of the Pending Transactions and the Nobilo Transaction on their envisioned conditions, conditions and timetables genuine buy value adjustments and other real closing changes the true market place effectiveness of brands incorporated in the contingent consideration payment possibility the accuracy of all projections and other aspects and uncertainties disclosed from time-to-time in Constellation Brands’ filings with the Securities and Exchange Fee, together with its Once-a-year Report on Kind 10-K for the fiscal 12 months ended February 29, 2020, which could induce true foreseeable future general performance to vary from present expectations.

ABOUT CONSTELLATION Manufacturers
At Constellation Brands (NYSE: STZ and STZ.B), our mission is to establish makes that folks enjoy due to the fact we believe that sharing a toast, unwinding after a day, celebrating milestones, and aiding folks hook up, are Worth Reaching For. It is worthy of our dedication, challenging get the job done, and the daring calculated pitfalls we acquire to deliver much more for our people, trade companions, shareholders, and communities in which we are living and function. It is what has created us one of the swiftest-increasing big CPG businesses in the U.S. at retail, and it drives our pursuit to supply what’s subsequent.

Right now, we are a foremost worldwide producer and marketer of beer, wine, and spirits with operations in the U.S., Mexico, New Zealand, and Italy. Every single working day, folks arrive at for our high-conclude, legendary imported beer brands these types of as Corona Extra, Corona Light-weight, Corona Premier, Modelo Especial, Modelo Negra, and Pacifico, and our substantial-excellent quality wine and spirits makes, like the Robert Mondavi Brand Household, Kim Crawford, Meiomi, The Prisoner Manufacturer Loved ones, SVEDKA Vodka, Casa Noble Tequila, and High West Whiskey.

But we will not stop right here. Our visionary management team and passionate employees from barrel room to boardroom are reaching for the following level, to take a look at the boundaries of the beverage alcoholic beverages industry and past. Sign up for us in getting what is Really worth Achieving For.

To study more, observe us on Twitter @cbrands and visit www.cbrands.com.

A downloadable PDF duplicate of this news launch can be observed here 
http://ml.globenewswire.com/Useful resource/Down load/59006592-0265-4972-948f-4314a65af71b


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