WSD: Constellation Consolidating Distributor Network

Dear Client:“Simplify” was the theme at Constellation’s fiscal year earnings conference call today where it listed a number of initiatives continuing into fiscal 2010 and beyond. The company plans on the following: moving to one distributor house per market; laying off 5% of its workforce; and consolidating its wine and spirits businesses into one operation.Constellation’s newly “streamlined” portfolio allows it to consolidate distributor agreements simply because it has less brands competing against one another. In the past, Constellation had a