2014 SUMMARY ANNUAL REPORT - …（2014年年度报告摘要-u2026）.pdfVIP

2014 SUMMARY ANNUAL REPORT BUILDING BRANDS THAT PEOPLE LOVE CONSTELLATION BRANDS / Summary Annual Report / 2014 1 CHAIRMAN’S LETTER PROUD LEGACY OF PIONEERING growth CONTINUES FELLOW SHAREHOLDERS In fiscal 2014, Constellation Brands wrote one of its most exciting and transformative chapters yet. We secured ownership of the Crown Imports beer business, perpetual brand rights for the iconic Grupo Modelo beer portfolio we sell in the U.S. − and purchased a state-of-the-art brewery in Nava, Mexico. In doing so, we took our more than 20-year commitment to the beer business to an unprecedented new level − solidifying the company’s position as the largest imported beer company in the U.S. and the third largest brewer and seller of beer for the U.S. market. With this historic deal, we usher in a new era of growth and opportunity for the company that is guided by Constellation Brands’ signature components for success: a pioneering spirit, bold strategic leadership, an enthusiasm for taking smart risks that yield high rewards and a passion for continually evolving our brands and our business to create shareholder value. The beer deal builds on a long history of acquisitions that have been coupled with a highly disciplined strategic journey to achieve profitable organic growth. And, we can now proudly point to an astounding increase in our stock value during fiscal 2014 as evidence we are on the right track. While the beer acquisition brings invigorating and innovative new prospects to the business, our family company heritage will continue to guide our growth. For nearly 70 years, we’ve had only three CEOs: our founder and my father, Marvin Sands, me and my brother, Rob. This continuity of leadership has