Constellation Brands Having Record-Breaking Year
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In addition to a bottle of wine, leaders of Victor-based Constellation Brands delivered some record-breaking financial news to shareholders Friday at the company's annual meeting at Nazareth College.
Since the beginning of the fiscal year, Constellation Brands stock is up 30 percent.
The company delivered record breaking free cash flows of more than $700 million and record Earnings Per Share of $2.34 cents.
Constellation leaders said the recent $160 million acquisition of Mark West wine brand and the $1.85 billion purchase of the other half of Crown Imports from Anheuser-Busch InBev solidifies the premium wine company's position as the largest multi-category supplier of beverage alcohol in the United States.
The Sands say a healthy bottom line translates a larger local workforce and a continued to commitment to the community.
This past year the Sands and Constellation donated about $5 million to local causes and organizations.
"As we grow, our commitment to our communities where we do business in, always increase. We’ve built CMAC, the performing arts center, we’re very involved with the New York Wine and Culinary Center, very involved with the hospital systems throughout the Greater Rochester area and very involved in education and early childhood development issues," said Richard Sands.
About 600 of the company's 4,400 full time employees work in Victor and at the winery and bottling facility in Canandaigua where Arbor Mist, Manischewitz Wine, J. Roget Champagne and Taylor dessert wines are produced.