Constellation Brands Partners With Its Flagship Brands to Contribute $1.75 Million to Help Rebuild the Restaurant Industry

Rhea-AI Summary

Constellation Brands (NYSE: STZ, STZ.B) has pledged $1.75 million in support of the National Restaurant Association Educational Foundation’s "Restaurants Advance" campaign. This initiative aims to revitalize the restaurant industry, which lost nearly 2.5 million jobs in 2020 due to COVID-19. The funding will assist in recruiting and training employees to rebuild the workforce. Constellation, alongside brands like Corona and SVEDKA Vodka, previously donated over $1 million to aid restaurant workers during the pandemic. CEO Bill Newlands emphasized the commitment to enhance employment opportunities and support the industry's recovery.

Positive

• Constellation Brands committed $1.75 million to support the NRAEF’s 'Restaurants Advance' campaign.
• The initiative aims to recruit and train employees to help rebuild the restaurant workforce, which was significantly affected by the pandemic.
• This is part of a long-term collaboration with the NRAEF to address workforce challenges in the restaurant industry.

Negative

• The restaurant industry remains 2.5 million jobs short of pre-COVID-19 levels, indicating ongoing challenges.

Commitment supports National Restaurant Association Educational Foundation’s “Restaurants Advance” Campaign

VICTOR, N.Y., April 06, 2021 (GLOBE NEWSWIRE) -- Constellation Brands, Inc. (NYSE: STZ and STZ.B), a leading beverage alcohol company, in partnership with a number of its iconic beer, wine, and spirits brands, announced today a collective commitment of $1.75 million to support the National Restaurant Association Educational Foundation (NRAEF) and the launch of their “Restaurants Advance” campaign. The commitment represents a multi-year collaboration with the NRAEF to rebuild the restaurant industry and create opportunities for restaurant workers from all backgrounds.

According to the NRAEF, the restaurant industry finished 2020 nearly 2.5 million jobs below its pre-COVID-19 levels. Constellation’s collective contribution – which includes support from the Corona brand family, SVEDKA Vodka, and Meiomi – will go to support the NRAEF’s programs dedicated to recruiting employees to help rebuild the restaurant industry’s workforce.

“Many of our retailer partners, particularly local restaurants and their employees, have been significantly impacted by this terrible virus,” said Bill Newlands, Constellation Brands’ president and chief executive officer. “We are proud to partner with the NRAEF and play a role in helping to rebuild the industry, and we believe that starts with the people who serve as its backbone. Our hope is to not only help rebuild the industry’s workforce with talented and diverse individuals to position it for future growth, but also to help bring financial security through enhanced employment opportunities to the thousands who have been impacted financially by the pandemic.”  

In March 2020, Constellation and several of its flagship brands contributed more than $1 million to the NRAEF’s Restaurant Employee Relief Fund, which raised more than $21.5 million and helped over 43,000 restaurant workers hit hard financially by the COVID-19 pandemic.

“Constellation Brands stepped up at the onset of the pandemic and helped us provide much-needed assistance for restaurant workers through our Restaurant Employee Relief Fund, and we are thrilled to have their support once more,” said Rob Gifford, president of the NRAEF. "While we have much work to do, this substantial donation will help rebuild the industry and support our work to open new doors of opportunity.”

Working alongside its partner organization, the Multicultural Foodservice & Hospitality Alliance (MFHA), the NRAEF’s “Restaurants Advance” campaign will support recovery efforts by focusing on investing in initiatives to attract talent to the industry, advance career development and increase equity for restaurant workers, and assist in the creation of pathways to small business ownership.

“Our brands and company have a long history of giving back to the communities where we live and work,” said Mike McGrew, Constellation’s chief corporate social responsibility officer. “These restaurants and their employees are vital to not only our business, but to our collective communities across the country. We are committed to doing our part to support them over the long term.”

The NRAEF is the non-profit arm of the National Restaurant Association and has an extensive history of supporting the restaurant, bar, hospitality and foodservice community. NRAEF programs include preparing high-school students for restaurant jobs and careers; offering scholarships to anyone building a future in restaurants; helping the military transition into the industry; providing apprenticeships and building pathways to independence for justice-involved individuals through job skills training and mentoring. For more information about the NRAEF and the “Restaurants Advance” campaign, go to ChooseRestaurants.org/Advance, and follow on Facebook, Twitter, Instagram, and LinkedIn.

ABOUT CONSTELLATION BRANDS
At Constellation Brands (NYSE: STZ and STZ.B), our mission is to build brands that people love because we believe sharing a toast, unwinding after a day, celebrating milestones, and helping people connect, are Worth Reaching For. It’s worth our dedication, hard work, and the bold calculated risks we take to deliver more for our consumers, trade partners, shareholders, and communities in which we live and work. It’s what has made us one of the fastest-growing large CPG companies in the U.S. at retail, and it drives our pursuit to deliver what’s next.

Today, we are a leading international producer and marketer of beer, wine, and spirits with operations in the U.S., Mexico, New Zealand, and Italy. Every day, people reach for our high-end, iconic imported beer brands such as Corona Extra, Corona Light, Corona Premier, Modelo Especial, Modelo Negra, and Pacifico, and our high-quality premium wine and spirits brands, including the Robert Mondavi brand family, Kim Crawford, Meiomi, The Prisoner brand family, SVEDKA Vodka, Casa Noble Tequila, and High West Whiskey.

But we won’t stop here. Our visionary leadership team and passionate employees from barrel room to boardroom are reaching for the next level, to explore the boundaries of the beverage alcohol industry and beyond. Join us in discovering what’s Worth Reaching For.

To learn more, follow us on Twitter @cbrands and visit www.cbrands.com.

MEDIA CONTACTS	INVESTOR RELATIONS CONTACTS
Mike McGrew 773-251-4934 / michael.mcgrew@cbrands.com Amy Martin 585-678-7141 / amy.martin@cbrands.com	Patty Yahn-Urlaub 585-678-7483 / patty.yahn-urlaub@cbrands.com Marisa Pepelea 312-741-2316 / marisa.pepelea@cbrands.com

A downloadable PDF copy of this news release can be found here. http://ml.globenewswire.com/Resource/Download/b4110147-be9f-4fd0-a9d5-14a4bfb588d3

FAQ

What is the purpose of Constellation Brands' $1.75 million commitment to the NRAEF?

The funding supports the 'Restaurants Advance' campaign aimed at rebuilding the restaurant workforce affected by the pandemic.

What impact did COVID-19 have on the restaurant industry according to the press release?

The restaurant industry ended 2020 with nearly 2.5 million jobs less than its pre-COVID-19 levels.

Which brands are contributing to Constellation Brands' commitment to the NRAEF?

The contribution includes support from the Corona brand family, SVEDKA Vodka, and Meiomi.

How did Constellation Brands support restaurant workers during the pandemic prior to this commitment?

In March 2020, Constellation Brands contributed over $1 million to the NRAEF’s Restaurant Employee Relief Fund.

What are the goals of the NRAEF's 'Restaurants Advance' campaign?

The campaign focuses on attracting talent, advancing career development, increasing equity for restaurant workers, and creating pathways to small business ownership.