Constellation brands : acquires renowned California winery Sea Smoke

VICTOR, N.Y., May 8, 2024 --Constellation Brands (NYSE: STZ), a leading beverage alcohol company, today announced the purchase of California winery, Sea Smoke. The acquisition further enhances the company's higher-end wine focus and portfolio growth strategy with one of the preeminent Pinot Noir producers in the world.

Inspired by the profound beauty of the wines from Burgundy, the portfolio's founder, Bob Davids, searched the globe for the finest plot of land to make world-class Pinot Noir, landing on a highly prized estate located in the Santa Rita Hills AVA of Santa Barbara County, California. This world-class vineyard and meticulous winemaking make it consistently one of the most highly rated and acclaimed Pinot Noir houses in the world.

"As we continue to pursue growth aligned with consumer-led premiumization trends through our higher-end brands of the Wine and Spirits business, we are excited to add Sea Smoke to our fine wine portfolio," said Sam Glaetzer, Constellation Brands' EVP & President, Wine & Spirits division. "Not only does Sea Smoke offer a uniquely acclaimed estate vineyard in the Santa Rita Hills AVA, its highly acclaimed wines also align with our target consumer preferences as they continue to shift to the higher end. We look forward to working with the Sea Smoke team to grow this exceptional winery while upholding its impeccable tradition of quality and customer experience."

"We are extremely excited to collaborate with Constellation Brands as we begin writing a new chapter in the Sea Smoke story. They have the right team with the right resources and the expertise to help us grow and thrive in a highly competitive market," said Victor Gallegos, VP/GM and Director of Winemaking, Sea Smoke. "It was clear early on that both Constellation Brands and Sea Smoke share an unwavering commitment to excellence, sustainability and strategic growth - qualities that will enable us to continue our mission to make some of the world's great estate-grown wines."

Sea Smoke joins Constellation's Fine Wine & Craft Spirits portfolio, a collection of the most lauded wine and spirits brands, including Schrader Cellars, Lingua Franca, Booker Vineyard, To Kalon Vineyard Company, Mount Veeder Winery, Robert Mondavi Winery, The Prisoner Wine Company, High West Distillery and Casa Noble Tequila, among others.

This acquisition was made in conjunction with the anticipated divestment of some of Constellation's non-core Wine & Spirits assets.

ABOUT CONSTELLATION BRANDS
Constellation Brands (NYSE: STZ) is a leading international producer and marketer of beer, wine, and spirits with operations in the U.S., Mexico, New Zealand, and Italy. Our mission is to build brands that people love because we believe elevating human connections is Worth Reaching For. It's worth our dedication, hard work, and calculated risks to anticipate market trends and deliver more for our consumers, shareholders, employees, and industry. This dedication is what has driven us to become one of the fastest-growing, large CPG companies in the U.S. at retail, and it drives our pursuit to deliver what's next.

Every day, people reach for our high-end, iconic imported beer brands such as those in the Corona brand family like the flagship Corona Extra, Modelo Especial and the flavorful lineup of Modelo Cheladas, Pacifico, and Victoria; our fine wine and craft spirits brands including The Prisoner Wine Company, Robert Mondavi Winery, Casa Noble Tequila, and High West Whiskey; and our premium wine brands such as Kim Crawford and Meiomi. As an agriculture-based company, we have a long history of operating sustainably and responsibly. Our ESG strategy is embedded into our business and our work focuses on serving as good stewards of the environment, enhancing social equity within our industry and communities, and promoting responsible beverage alcohol consumption. These commitments ground our aspirations beyond driving the bottom line as we work to create a future that is truly Worth Reaching For.

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