Jump to Constellation Brands: Alerts;
• Constellation Brands decided to cut 400 jobs of its 8,000 employees.
-- Profile Updated 07/07/2010
About Constellation Brands
Constellation Brands was started in 1945 with the formation of Canandaigua Industries Company. Soon after formation, the company started a pattern of buying other wineries and expanding business. By 2003 Constellation Brands was the world’s largest producer of wines. Along with wine, Constellation Brands have entered the business of other alcoholic beverages. In January 2007, Constellation Brands creates a 50/50 joint venture called Crown Imports with Grupo Modelo, a beverage company that owns Corona. Some of the well known beverages owned by Constellation Brands are SVEDKA vodka, Black Velvet Canadian Whiskey, Robert Mondavi Wines, Clos Du Bois, and Arbor Mist.
There are no known affiliates associated with Constellation Brands.
Contact Constellation Brands
Victor, NY 14564 USA
• Constellation Brands is taking steps to make its business practices sustainable. Some actions include, building the world’s largest solar power system for a winery. As of 2009 a Constellation Brands winery in California will receive about 50% of its power from a solar power system. In Canada, Constellation Brands is working with local wineries to divert grape pomace from landfills and use it to create electric power. Also, in Australia, Constellation Brands is working to convert vineyards to subsurface irrigation to cut down on water consumption.
-- PR Newswire, 01/15/2009
Ethics and Governance
• Joe Moramarco, chief executive officer of Constellation International left the company on June 30, 2009. His responsibilities were absorbed by other company executives. The announcement of Moramarco’s departure was paired with the statement, "As we continue to evaluate the organization and look to position the company for long-term success, refining and simplifying our international organization provides opportunities for increased synergies within the U.K. and Australian markets…We anticipate significant benefits from a leaner and more flexible international organization as we continue toward our goal of improving efficiencies, profit, cash flow and return on invested capital as well as paying down debt."
-- PR Newswire, 06/05/2009
• Constellation Brands decided to cut 400 jobs of its 8,000 employees, about 5% of the workforce after they saw a drop in profits. At the end of the 2008 fiscal year shares were down 6%.
-- Reuters, 03/25/2009
• In 2008 Constellation decided to cut 350 jobs in Australia and sell 3 of the 10 wine production facilities it operated in Australia. Constellation Brands acquired their Australia wine business when they bought Hardy Wine Co. in 2003. The reorganization of their Australian business was an attempt to cut costs in a bad economy. The president of Constellation Wines Australia stated that the company will provide assistance to impacted employees.
-- Fat Cat, 08/07/2008
Source URL: www.fatcat.com.au/news/xml/560.html