Constellation Brands Management Discusses Q1 2013 Results Carla Casella JP Morgan Chase Co, nhl jerseys Research DivisionGood morning. My name is Jackie, and I will be your conference operator today. At this time, I would like to welcome everyone to the Constellation Brands First winter coats moncler Quarter and Fiscal Year 2013 Earnings Conference Call. [ Instructions] Moncler Men down Hooded Buttons Black jackets I would now like to turn the conference over to Patty Yahn Urlaub, Vice President of Investor Relations. Please go ahead. Thank you, Jackie. Good morning, everyone, and welcome to Constellation s first quarter fiscal 2013 conference call. I m here this morning with Rob Sands, our President and Chief Executive Officer; and Bob Ryder, our Chief Financial Officer. This call complements Moncler Mens T-shirt with color pure sky blue our news release, which has also been furnished to the SEC. During this call, we may discuss financial information on a GAAP, comparable, organic and constant currency basis. However, discussions will generally focus on comparable financial results. Please also be aware that we may make forward looking statements during this call. While those statements represent our best estimates and expectations, actual online moncler outlet results could differ materially from our estimates and expectations. For a detailed list of risk factors that may affect the company s estimates, please refer to the news release and Constellation s SEC filings. And now, I d like to turn the call over to Rob. Thanks, Patty. And good morning, and welcome to our call. This has certainly been an exciting week for us. beer market, which is one of the most attractive sectors of the beverage authentic moncler alcohol industry. The structure of this transaction will solidify our place in this market for the long term and most importantly will remove the uncertainty that, we believe, has moncler clothing online created a significant overhang related to the valuation of our stock. where it has the exclusive right to import, market and sell the Modelo brands, which include Corona Extra, Corona Light, Modelo Especial, Pacifico, Negra Modelo and Victoria. on a volume basis. Crown will have complete, independent control as a brand owner with respect to distribution, marketing, promotion and pricing. ABI will be responsible for ensuring the continuity of supply and quality of products as well as providing the ability to introduce innovation, although they will have no visibility or future influence on marketing, distribution or pricing. Bill Hackett and the Crown team have built an absolutely phenomenal business driven by their strength in brand building and the strong relationships they have established with distributors and retailers in the marketplace. This is a perpetual agreement that has an initial term of 10 years and renews automatically for subsequent 10 year terms. In addition, ABI has the right, but not the obligation, to exercise a call option at a multiple of 13x EBIT for the Grupo Modelo brands, approximately one year prior to the expiration of any 10 year term subject to regulatory approval. This arrangement will dramatically enhance Constellation s financial profile as it will result in the full consolidation of Crown s financial results within Constellation s existing business model upon closing. Bob will have specifics related to the funding of the deal and the high level financial implications for Constellation in just a few moments. In the wine business, we are also pleased to announce today that we are purchasing the Mark West brand, which represents a synergistic, moncler 2011 high growth, complementary tuck in to our existing portfolio of wine brands. As you know, we have successful we have a successful track record of integrating high growth, strong momentum brands, and I am excited by the prospect of adding Mark West to our brand family. And now I d like to just to focus our discussion on our first quarter operational results. We are off to a good start for the year with results that were generally in line with our expectations. wine and spirits volume. wine and spirits business covered by exclusive distributor discount moncler jackets arrangements. We continue to focus on developing, launching and promoting our new products and existing focus brands in the marketplace, which, to date, have received great reception by consumers. Some examples include the recently launched 4 varietals for our new Thorny Rose brand, which is specifically targeted to millennials who contributed to the development of this brand. This generation is creating a brand that is tailored to their life stage as they enter the wine category. A new summer TV campaign kicks off as we speak for Woodbridge by Robert Mondavi. This innovating advertising positions Woodbridge as the catalyst for creating moments for sharing

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