RICHARD SANDS ON THE LOOKOUT FOR “ADDITIONAL ACQUISITIONS.”
Yesterday at Constellation’s shareholder meeting, Richard Sands confirmed the company is keeping a close eye on Vin & Sprit’s Absolut vodka in case it ever goes for sale.
“Brands like Absolut that are produced in Sweden certainly have an interest to us," said Constellation CEO Richard Sands.
"But that's just one out of many potential opportunities," Sands added. "The other ones aren't as public.”
While some have felt that Constellation may not have the means for another major consolidation after the recent Vincor acquisition, Richard put those rumors to rest yesterday.
“We have the financial capacity to make additional acquisitions and we believe because of our decentralized structure we have the management capacity to make additional acquisitions, so we’re not concerned in any way about our capacity,” he said. “But is the acquisition going to be strategic? Is the price going to be reasonable and will it create shareholder value?”
“Brands like Absolut that are produced in Sweden certainly have an interest to us," said Constellation CEO Richard Sands.
"But that's just one out of many potential opportunities," Sands added. "The other ones aren't as public.”
While some have felt that Constellation may not have the means for another major consolidation after the recent Vincor acquisition, Richard put those rumors to rest yesterday.
“We have the financial capacity to make additional acquisitions and we believe because of our decentralized structure we have the management capacity to make additional acquisitions, so we’re not concerned in any way about our capacity,” he said. “But is the acquisition going to be strategic? Is the price going to be reasonable and will it create shareholder value?”
posted at 12:27 PM
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