Business Context and Reporting Period
Company: Constellation Brands, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: November 30, 2009
Event: Regulation FD Disclosure regarding the sale of the European cider business.
Key Financial Metrics
This filing does not provide specific revenue, profit, cash flow, margin, debt, or liquidity figures. The document serves as a disclosure of a material event rather than a financial statement. It references a news release (Exhibit 99.1) containing guidance on the expected impact of the transaction on diluted earnings per share for the fiscal year ending February 28, 2010, but does not list the specific numerical values within this text.
Material Changes
- Asset Divestiture: Constellation Brands entered into an agreement to sell its European cider business to C&C Group PLC of Dublin, Ireland.
- Assets Included: The sale encompasses the business unit, a production facility, and associated warehouses and distribution facilities.
- Transition Services: The parties agreed to provide temporary transition services to one another following the transaction.
Guidance, Outlook, and Risks
- Earnings Impact: The company provided information regarding the expected impact of the sale on its diluted earnings per share outlook for the fiscal year ending February 28, 2010.
- Forward-Looking Statements: Management noted that projections involve risks and uncertainties that cannot be foreseen, and actual results may vary materially from these projections.
- Legal Disclaimer: The information is "furnished" and not "filed" under Section 18 of the Securities Exchange Act of 1934, limiting liability for the forward-looking statements contained in the referenced news release.
Investor Verification Checklist
- Review Exhibit 99.1 (News Release) for specific numerical guidance on diluted earnings per share for fiscal year 2010.
- Verify the closing date and final terms of the agreement with C&C Group PLC.
- Assess the specific scope and duration of the temporary transition services to be provided.
- Monitor subsequent filings for the actual financial impact of the divestiture once the transaction closes.