Latest News by Industry
VICTOR, N.Y., March 20, 2023 (GLOBE NEWSWIRE) -- Constellation Brands, Inc. (NYSE: STZ), a leading beverage alcohol company, announced today a two-year commitment of $400,000 in total contributions to The Nature Conservancy (TNC), whose mission is to “conserve the lands and waters on which all life depends.” This contribution will help fund TNC conservation projects focused on improving the quantity and quality of inflows to the Rio Grande, which is the fifth longest river in the world and supplies drinking and irrigation water for more than 6 million people and 2 million acres of land across the U.S. and Mexico1. These projects are aimed at helping to provide adequate and safe water supply for downstream users, including in Piedras Negras, Coahuila – a local community near Constellation Brands’ operations in Mexico.
A portion of the contribution will be used to support expanding TNC’s Sustainable Agriculture Program to the Rio Grande Basin. This program will scale TNC’s existing partnerships with state agencies, agricultural producers, and landowners to expand sustainable agriculture and grazing practices in the Rio Grande Basin and help landowners with technical assistance and cost-share programs. This program is designed to partner with agricultural producers to implement changes in water management practices to support conservation and provide meaningful benefits to both water quantity and quality in priority areas.
The remaining contribution will support an ongoing Groundwater Protection Program focused on protecting the regional aquifer systems that feed into the Lower Rio Grande, which are critical to maintaining its health and resiliency. By building strategic partnerships, investing in groundwater conservation science development, and developing groundwater conservation agreements with landowners, this project will be aimed at helping improve water management to protect the largest portion of borderlands water originating in Texas.
These programs complement the company’s water stewardship efforts originating in Mexico and benefitting the local communities surrounding Constellation Brands’ operating facilities in areas like Zaragoza, Coahuila where the company recently helped implement new water infrastructure which has improved water accessibility for the majority of families, or approximately 13,000 people, in this town.
“We look forward to collaborating with TNC to deliver sustainable water solutions that help support the livelihoods of our families, neighbors, and local residents in communities near our operations,” said Mike McGrew, Constellation Brands’ Executive Vice President and Chief Communications, CSR, and Diversity Officer. “When members of the business community, local residents, government officials, and NGOs work together to ensure the long-term viability of our communities, everyone benefits.”
In addition to helping improve water quality and quantity for the broader community, these programs are expected to provide volumetric benefits toward Constellation’s water restoration goals. Between Fiscal Year 2023 and Fiscal Year 2025, Constellation is targeting to restore approximately 1.1 billion gallons of water withdrawals from local watersheds, while improving accessibility and quality of water for communities where the company operates. To achieve this target, Constellation developed a strategy focused on water efficiency, watershed restoration, and water accessibility and quality. More information about Constellation’s water stewardship strategy and efforts can be found on the company’s website at www.cbrands.com under the Sustainability section or within the company’s ESG Impact Report. To watch a brief video highlighting Constellation’s ESG strategy, click here.
For more information about Constellation’s previous contributions to TNC, click here.
1 According to data from the International Boundary and Water Commission
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements. All statements other than statements of historical fact are forward-looking statements. The word “expect” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These statements may relate to our business and ESG strategies, future plans, events, performance, targets, goals, or objectives, future operations, future environmental, financial, or social metrics and programs, or expected actions of third parties. All forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those set forth in, or implied by, such forward-looking statements. No assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur.
The forward-looking statements are based on management's current expectations and should not be construed in any manner as a guarantee that such results will in fact occur. All forward-looking statements speak only as of the date of this news release and Constellation Brands does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
In addition to risks and uncertainties associated with ordinary business operations, the forward-looking statements contained in this news release are subject to the risk, uncertainty, and possible variance from our current expectations regarding: future global economic conditions; market conditions; regulatory conditions; unanticipated environmental liabilities and costs; changes to governmental rules and regulations; the actions of competitors; consumer expectations and preferences; and other factors and uncertainties disclosed from time-to-time in Constellation Brands’ filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended February 28, 2022 and its Quarterly Report on Form 10-Q for the fiscal quarter ended November 30, 2022, which could cause actual future performance to differ from current expectations.
ABOUT CONSTELLATION BRANDS
At Constellation Brands (NYSE: STZ), our mission is to build brands that people love because we believe sharing a toast, unwinding after a day, celebrating milestones, and helping people connect, are Worth Reaching For. It’s worth our dedication, hard work, and the bold calculated risks we take to deliver more for our consumers, trade partners, shareholders, and communities in which we live and work. It’s what has made us one of the fastest-growing large CPG companies in the U.S. at retail, and it drives our pursuit to deliver what’s next.
Today, we are a leading international producer and marketer of beer, wine, and spirits with operations in the U.S., Mexico, New Zealand, and Italy. Every day, people reach for our high-end, iconic imported beer brands such as Corona Extra, Corona Light, Corona Premier, Modelo Especial, Modelo Negra, and Pacifico, 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 Meiomi, and Kim Crawford.
But we won’t stop here. Our visionary leadership team and passionate employees from barrel room to boardroom are reaching for the next level, to explore the boundaries of the beverage alcohol industry and beyond. Join us in discovering what’s Worth Reaching For.
To learn more, visit www.cbrands.com and follow us on Twitter, Instagram, and LinkedIn.
| MEDIA CONTACTS | INVESTOR RELATIONS CONTACTS |
| Mike McGrew 773-251-4934 / michael.mcgrew@cbrands.com Amy Martin 585-678-7141 / amy.martin@cbrands.com | Joseph Suarez 773-551-4397 / joseph.suarez@cbrands.com Snehal Shah 847-385-4940 / snehal.shah@cbrands.com David Paccapaniccia 585-282-7227 / david.paccapaniccia@cbrands.com |
A downloadable PDF copy of this news release can be found here: http://ml.globenewswire.com/Resource/Download/9dd6e0ec-507d-4434-9a1e-2798bc58c073