Vincor deal confirmed
Constellation Brands has finally completed its C$1.22 billion (590 million) acquisition of Canadian company Vincor - with both shareholder and court approval now given.
he takeover was drawn-out and, at times, hostile, with Vincor having refused numerous takeover attempts, but a deal was agreed in April and formally completed this week.
In Canada, the company will continue to operate as Vincor Canada, and its acquisition makes Constellation the number one wine company in the country. The acquisition also brings the company's total production to 110 million nine-litre cases worldwide.
Richard Sands, Constellation Brands' chairman and CEO, said: This is a very special day for Constellation as we welcome Vincor as part of our international family of vibrant beverage alcohol brands, markets and employees, with a common vision for creating value by growing our business.'
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