Constellation Brands Prunes for New Growth
Constellation Brands Prunes for New Growth
May 13, 2010 6
Constellation Brands Inc., which ended up as the world's largest winemaker after going on a buying binge, is trying to adjust to a life of new discipline and find growth through other means.The company, whose labels include Robert Mondavi, Blackstone and Vendange, has been consolidating divisions and cutting unprofitable brands after ending its acquisition spree two years ago, heavy with debt and facing slowing sales. The moves have bolstered Constellation's balance sheet, including a $600 million reduction in debt in its latest fiscal year. But fickle U.S. consumers and a choppy economy are complicating efforts to revive revenue and profit.
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