| Revision as of 16:12, 10 November 2006 editCrazybeer (talk | contribs)1 edit NY Probe by state Attorney Eliot Spitzer← Previous edit | Revision as of 17:50, 11 November 2006 edit undoSrwm4 (talk | contribs)236 edits removed unformated and unneeded press releaseNext edit → | ||
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| On April 3, 2006, Constellation announced that it will buy ]; a Canadian winemaker for $1.44 Billion ]. | On April 3, 2006, Constellation announced that it will buy ]; a Canadian winemaker for $1.44 Billion ]. | ||
| ''''''For the knowhow''' | |||
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| + Fifteen wine and liquor suppliers have reached a settlement with New York state over engaging in allegedly illegal marketing practices, state Attorney General Eliot Spitzer said Monday. | |||
| + The suppliers said they would reform their marketing practices and pay $2.3 million in fines and costs. | |||
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| + Spitzer said the agreement complements a settlement his office reached in September with the eight largest liquor wholesalers in New York state. The wholesalers agreed to pay $1.6 million in fines. | |||
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| + "As a result of these supplier and wholesaler agreements, the illegal schemes that benefitted a favored few have ended," Spitzer said. "The result is that thousands of smaller stores, bars and restaurants will now be able to compete on a level playing field." | |||
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| + Both cases arose from complaints within the industry that some wholesalers and suppliers were not selling all brands to all retailers at the same prices, which the critics said state regulations require. Among the complaints were that some retailers were getting gifts and cut-rate prices on some brands. In return, they were agreeing to stock less popular brands. | |||
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| + State Liquor Authority Chairman Daniel Boyle was involved in the agreement announced Monday. | |||
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| + Spitzer said his investigation revealed that wholesalers were engaged in an array of illegal activities while suppliers did so to a substantially lesser degree. | |||
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| + Spitzer's office said the following companies entered agreements with the attorney general: Bacardi U.S.A. Inc; Banfi Products Corp.; Brown-Forman Corp.; Constellation Brands Inc.; Diageo North America Inc.; E & J Gallo Winery; Future Brands LLC; Absolut Spirits Co. Inc.; Jim Beam Brands Co.; Kobrand Corp.; Moet Hennessey USA Inc.; Pernod Ricard USA LLC; Remy Cointreau USA Inc.; Sidney Frank Importing Co. Inc.; Skyy Spirits LLC. | |||
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| + There was no immediate comment from the suppliers about the settlement. | |||
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| + Spitzer said an investigation of liquor retailers is continuing. | |||
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| + The owner of All-Star Wine & Spirits in Latham, Craig Allen, has been pursuing a court case against the wholesalers' sales practices for more than two years. The state's highest court, the Court of Appeals, heard oral arguments in his case earlier this month and is expected to hand down a ruling by the end of autumn. | |||
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| + During those oral arguments, several skeptical judges said the liquor industry was working out its differences with Spitzer. The judges' questions why they should get involved in the matter at all. | |||
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| + '''Published October 30, 2006 by The Business Review''' | |||
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| ==External links== | ==External links== | ||
Revision as of 17:50, 11 November 2006
| File:Constellation Logo.gif | |
| Company type | Public NYSE: STZ |
|---|---|
| Industry | Beverages |
| Founded | 1945 |
| Headquarters | Fairport, New York, USA |
| Key people | Richard Sands, Chairman & CEO Robert Sands, President & COO Alexander L. Berk, CEO of Constellation Beers & Spirits |
| Products | Wine: Dining & Desert Beer Spirits |
| Revenue |  $4.087 Billion USD (2005) |
| Operating income | 2,842,900,000 United States dollar (2022)  |
| Net income | $266.6 Million USD (2005) |
| Number of employees | 7,700 (2005) |
| Website | www.cbrands.com |
Constellation Brands, Inc., headquartered in Fairport, New York, is a leading international producer and marketer of beverage alcohol brands with a broad portfolio across the wine, imported beer and spirits categories. Constellation is the largest wine company in the world; the largest multi-category supplier of beverage alcohol in the United States; a leading producer and exporter of wine from Australia and New Zealand; and both a major producer and independent drinks wholesaler in the United Kingdom.
Constellation was founded in 1945 as a wine manufacturer and currently has over 200 beverage alcohol brands over two operating divisions - Constellation Wines and Constellation Beers & Spirits.
Constellation Wines produces, markets and sells a broad portfolio of wines throughout the world. It also operates the leading independent drinks wholesaler and a cider business in the United Kingdom, and produces bulk wine and other related products. Its portfolio includes leading brands from the United States (Franciscan Oakville Estate, Simi, Ravenswood, Arbor Mist), Australia (Hardys & Renmano), New Zealand (Nobilo), Chile (Veramonte) and Argentina (Marcus James).
Constellation Beers & Spirits is one of the largest producers and marketers of distilled spirits in the United States. Some of this division's leading brands include Corona Extra and Corona Light, Modelo Especial, Tsingtao, St. Pauli Girl, Black Velvet, Fleischmann's, Chi-Chi's and Paul Masson Grande Amber Brandy.
Today, Constellation's gross sales are well over $4 billion. It operates over 43 production facilities, has close to 7,500 employees and sells its products in more than 60 countries in North America, South America, Europe and Australia.
On April 3, 2006, Constellation announced that it will buy Vincor International; a Canadian winemaker for $1.44 Billion USD.