Constellation Brands (STZ) announced today that they are growing their wine offerings by adding Meiomi to their lineup. The local company purchased the 33-year-old Californian wine maker for a cool $315 million. Constellation Brands reports that Meiomi pinot noir ranks first in sales growth in the last three-month period demonstrating success with customers and making the acquisition a great addition to the "luxury portfolio".
The company, headquartered in Victor, NY, is one of the leading international producers and marketers of beer, wine, and spirits. This April, the company announced the initiation of a quarterly dividend for shareholders as they have continued to grow.
Local companies, like Constellation Brands, can provide unique opportunities for investors who are open minded and ready to learn about different types of businesses and business models. Talk with your advisor about publically traded local companies that may interest you and how they may play a role in achieving your financial goals.
Caroline Hill, Financial Advisor
(This article contains the current opinions of the author but not necessarily those of Brighton Securities Corp. The author's opinions are subject to change without notice. This blog post is for informational purposes only. Forecasts, estimates, and certain information contained herein should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. References to specific securities and their issuers are for illustrative purposes only and are not intended and should not be interpreted as recommendations to purchase or sell such securities).