Mississauga, ON, June 1, 2006 – Vincor International Inc.,the world's eighth largest producer and distributor of wine and related products,today announced that its shareholders approved the acquisition of all of the Company's outstanding common shares by a wholly-owned subsidiary (“Acquisition Sub”) of Constellation Brands, Inc. (“Constellation”) at the Company's Special Meeting of Shareholders held this morning. Shareholders representing 71.57percent of all shares outstanding and 95.16percent of all votes cast voted in favour of the transaction involving the Company, Acquisition Sub and Constellation, exceeding the required 66? percent of the votes cast.
The closing of the transaction is subject to court approval in Canada as well as the satisfaction or waiver of the other conditions specified in the Arrangement Agreement. The Company will seek final court approval on Monday, June 5, 2006. If court approval is obtained and the other conditions to closing are satisfied or waived, the transaction is expected to close on June 5, 2006, at which time all Vincor shareholders will be entitled to receive $36.50 in cash for each Vincor common share.
About Vincor
Vincor International Inc. is the world's eighth largest wine company by revenue. Vincor has wineries in British Columbia, Ontario, Quebec, New Brunswick, California, Washington State, Western Australia and New Zealand, and is one of the largest wine importers, marketers and distributors in the United Kingdom. Vincor markets wines produced from grapes grown in the Niagara Peninsula of Ontario, the Okanagan Valley of British Columbia, the Dunnigan Hills of California, the Columbia Valley of Washington State, Western Australia, New Zealand, South Africa and vineyards around the world. Vincor's premium brands include Inniskillin, Jackson-Triggs, R.H. Phillips, Toasted Head, Hogue, Goundrey, Amberley, Sumac Ridge, Hawthorne Mountain, Kim Crawford, Kumala, Ancient Coast and Sawmill Creek, which complement its popular priced wines such as Entre-Lacs, L'Ambiance, Sola Nero and Notre Vin Maison.