Chicago, Jan. 8 - Constellation Brands, Inc., a leading international beverage alcohol producer and marketer, today announced that its Chicago-based spirits company, Barton Brands, has acquired the remaining 50 percent equity stake in its Planet 10 Spirits joint venture. Terms of the transaction were not disclosed.
Planet 10 Spirits was formed in 2004 as an entrepreneurial premium spirits brand development and marketing platform to expand Constellation's participation in the fast-growing, super premium imported vodka category. Planet 10 Spirits' leading product, Effen vodka from Holland, has achieved widespread on- and off-premise distribution and consumer acceptance resulting in a fivefold increase in Effen sales volume since the formation of the joint venture. In addition, Effen has been successfully launched in key global spirits markets such as the U.K., Canada, Japan and Australia.
"Our participation in the Planet 10 Spirits joint venture has given us nvaluable insights into the high-end spirits marketplace and has enabled us to shape a strategy for growing this important piece of our business," said Marty Birkel, president of Barton Brands. "We are confident that our efforts to expand our premium spirits portfolio will continue to provide profitable growth and value creation for the long term. The addition of Planet 10 Spirits to the Barton organization will provide us with a team of dedicated and successful on-premise sales & marketing specialists who will continue to build Effen and other select premium spirits brands within our portfolio."
About Barton Brands and Constellation Brands
Barton Brands, Ltd. is the spirits division of Constellation Brands, Inc., a leading international producer and marketer of beverage alcohol in the wine, spirits and imported beer categories. Barton Brands is a major producer, importer and exporter of a wide range of spirits products, including well- known brands such as Black Velvet Canadian Whisky, Ridgemont Reserve 1792 bourbon, and Effen vodka. Constellation Brands, based in Fairport, N.Y., has more than 250 brands in its portfolio, sales in approximately 150 countries and operates approximately 60 wineries, distilleries and distribution facilities. It is the largest wine producer in the world; the largest wine company in the U.S. based upon sales dollar value, the largest wine company in the U.K., Australia and Canada; the second largest wine company in New Zealand; the largest beer importer and marketer in the U.S. through its Crown Imports joint venture with Mexico's Grupo Modelo; and the third largest spirits company in the U.S. Constellation Brands is an S&P 500 Index and Fortune 500(R) company. Major brands in the company's portfolio, in addition to those referenced above, include Corona Extra, the SVEDKA vodka line, Robert Mondavi wines, Ravenswood, Blackstone, Hardys, Banrock Station, Nobilo, Kim Crawford,
Inniskillin, Jackson-Triggs and Arbor Mist.