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Constellation Brands (NYSE: STZ) is a leading international producer and marketer of beer, wine, and spirits operating in the U.S., Mexico, New Zealand, and Italy. The company's mission is to build beloved brands that enhance human connections. With iconic imported beer brands like Corona, fine wine and craft spirits offerings, sustainability-focused operations, and a commitment to responsible consumption, Constellation Brands is dedicated to creating a future Worth Reaching For.
Constellation Brands (NYSE: STZ, STZ-B) has announced the pricing of cash tender offers for its 3.20% and 4.25% Senior Notes due 2023. The offers will expire today at 5:00 p.m. NYC time. Holders of the validly tendered notes will receive the applicable Tender Offer Consideration along with accrued interest until the settlement date, expected on May 9, 2022. The offers are subject to conditions outlined in the Offer Documents. Investors are encouraged to review these documents for detailed terms before making decisions regarding their notes.
Constellation Brands (NYSE: STZ, STZ-B) announced the pricing of a public offering of $1.85 billion in Senior Notes. This includes $550 million of 3.60% Senior Notes due in 2024, $600 million of 4.35% Senior Notes due in 2027, and $700 million of 4.75% Senior Notes due in 2032. The company plans to use proceeds to fund cash tender offers for existing 3.20% Senior Notes and 4.25% Senior Notes due in 2023, with any excess for general corporate purposes. The offering is expected to close on May 9, 2022.
Constellation Brands (NYSE: STZ, STZ-B) announced cash tender offers for its outstanding 3.20% and 4.25% Senior Notes due 2023. The Offers commenced on May 2, 2022, with an expiration date set for May 6, 2022. The company aims to purchase up to $600 million of 3.20% notes and $1.05 billion of 4.25% notes. Holders who validly tender their notes will receive accrued interest and will be settled on May 9, 2022. The Offers are contingent on the successful completion of a new senior notes offering.
Constellation Brands has announced an accelerated share repurchase (ASR) agreement with Bank of America for $500 million of its Class A common stock. The company will receive approximately 1.7 million shares on April 8, 2022, representing about 80% of expected share repurchases. The total transaction is projected to complete by May 2022. This ASR utilizes cash on hand and will not affect the fiscal 2023 EPS guidance. The company retains approximately $2.6 billion in its current repurchase authorization.
Constellation Brands (NYSE: STZ, STZ.B) reported its fiscal year 2022 results, highlighting strong performance and a positive outlook for fiscal year 2023. Key metrics included a solid increase in revenue and robust growth in premium beer and wine segments. The company continues to expand its market presence internationally, emphasizing its commitment to innovation and brand development. A conference call was held on April 7, 2022, to discuss these results in detail and outline future strategies.
Constellation Brands has received a non-binding proposal from the Sands Family to declassify its common stock. The proposal suggests converting Class B shares into 1.35 Class A shares, maintaining the Sands Family as the largest shareholder. The Sands Family asserts this change will enhance market demand for the stock. A Special Committee has been formed to assess the proposal, requiring approval from the committee, the Board of Directors, and a majority of Class A shareholders not holding Class B shares for completion.
Constellation Brands (NYSE: STZ, STZ.B) has announced the promotion of Kris Carey to Executive Vice President and Chief Human Resources Officer, effective May 9, 2022. Carey, who joined the company in 2013, succeeds Tom Kane, who will retire in May after a nine-year tenure. Carey will oversee HR support and global programs while ensuring a smooth transition with Kane. Constellation’s CEO, Bill Newlands, emphasized the importance of succession planning in maintaining the company's culture and talent investment.
Constellation Brands (NYSE: STZ, STZ.B) will report its financial results for the full fiscal year and Q4 on April 7, 2022, before U.S. markets open. The results pertain to the period ending February 28, 2022. A conference call led by CEO Bill Newlands and CFO Garth Hankinson will follow at 10:30 a.m. EDT. Interested parties can access the call via phone or listen to the live webcast on the company's website, where a replay will also be available. Constellation Brands continues to be a leader in the beverage alcohol industry, focusing on premium wine, beer, and spirits.
Constellation Brands has announced a leadership transition within its Beer Division effective January 24, 2022. Jim Sabia is promoted to Executive Vice President and President, Beer Division, while Paul Hetterich becomes Executive Vice President and Chair, Beer Division. Hetterich will oversee beer operations in Mexico and capital projects to meet rising consumer demand. The company emphasizes its ambition to maintain growth in the beer sector, highlighted by Modelo Especial as the #2 beer brand in the U.S. by dollar sales.
Constellation Brands (NYSE: STZ and STZ.B) announced its third quarter fiscal 2022 results on January 6, 2022. The company will hold a conference call at 10:30 a.m. EST to discuss the financial performance and future outlook. As a leader in the beverage alcohol market, Constellation Brands continues to grow, specializing in beer, wine, and spirits across the U.S., Mexico, New Zealand, and Italy, representing brands like Corona and Robert Mondavi. The full financial details are available in the accompanying PDF report.
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