Vincor USA News Headlines
Vincor obtains final order and confirms closing of acquisition by Constellation Brands, Inc.
June 5th, 2006
Mississauga, ON, June 5 - Vincor International Inc. (TSX:VN), announced today that it obtained a final order from the Ontario Superior Court of Justice approving the previously announced statutory plan of arrangement and, thereafter, closed the transaction pursuant to which all of Vincor's common shares were acquired by a subsidiary of Constellation Brands, Inc. Under the plan of arrangement, Vincor shareholders are entitled to receive $36.50 in cash for each Vincor common share. It is expected that Vincor's common shares will be delisted from the Toronto Stock Exchange by the close of business on Wednesday, June 7th, 2006.
Vincor shareholders approve acquisition by Constellation Brands, Inc.
June 1st, 2006
Vincor International Inc. ("Vincor" or the "Company") (TSX:VN), 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.
Vincor Board Unanimously Approves All-Cash Transaction Valued at $1.5 Billion Including Net Debt
April 3rd, 2006
MISSISSAUGA, ON, April 3 - Vincor International Inc. (TSX:VN), the world's eighth largest producer and distributor of wine and related products, today announced that yesterday it entered into a definitive agreement with Constellation Brands, Inc. under which a company owned by Constellation will acquire all of Vincor's outstanding shares pursuant to a plan of arrangement in an all-cash transaction valued at $36.50 per share. The transaction price represents a premium of 55.5% to Vincor's closing share price on September 27, 2005, prior to Constellation's initial approach, and a premium of 15.9% to Vincor's closing share price on March 31, 2006. Including net outstanding debt, the total transaction value of $1.5 billion represents a multiple of 13.1 times fiscal 2006 consensus EBITDA, which is consistent with similar transactions.
Toasted Head Achieves Impact 2005 Hot Brand Status Again And Again
March 16th, 2006
Toasted Head returns to Impacts 2005 Hot Brands list for the third consecutive year. The Impact Hot Brands awards, presented each year by publishing magnate, Marvin Shanken, gives wine trade professionals, retailers and restaurateurs an idea of market trends in the wine industry by offering a list of the top selling, hottest brands each year.
Directors Unanimously Reject Constellation Take-over Bid
November 3rd, 2005
The Board of Directors of Vincor International Inc. (TSX:VN), the world's eighth largest producer and distributor of wine and related products, today formally responded to the unsolicited takeover bid by Constellation Brands, Inc. for all of the outstanding common shares of Vincor. In a Directors' Circular that is being mailed to shareholders, Vincor's Board unanimously recommends that shareholders reject Constellation's $31.00 offer and not tender to it. The Directors' Circular will be available in its entirety at www.vincorinternational.com or www.sedar.com.
Vincor USA President Announces Departure
January 7th, 2005
John Giguiere, president of Vincor USA and founder of R.H. Phillips Winery, announced January 4, 2005, that he will leave thecompany in August 2005.