Constellation Names Company Veteran Sam Glaetzer To Lead Wine & Spirits Division

In case you missed yesterday’s news alert, Constellation Brands has promoted from within to find new leadership for its wine and spirits division, with company veteran Sam Glaetzer filling the role previously held by Robert Hanson, who departed at the end of last month.

Glaetzer ascends to lead Constellation’s 24-million-case wine and spirits unit after a three-decade career in the drinks business. Most recently serving as senior vice president of global operations and international sales, he’s been with the company since 2014, when he joined its New Zealand and Australia unit, going on to hold key leadership roles encompassing general management, international commercial sales, supply chain operations, product quality, new product development, acquisition integrations, and divestitures.

In announcing the move, Constellation president and CEO Bill Newlands called Glaetzer “a well-rounded senior leader with a wealth of experience in wine and spirits and a successful track record of driving commercial and operational efficiency and effectiveness.” He added that the company’s “strategic wine and spirits brand portfolio transformation is largely complete, and as we turn our focus more squarely towards strong commercial and operational execution for this business, Sam is uniquely equipped to lead our Wine & Spirits Division.”

During Hanson’s tenure, which began in 2019, Constellation dramatically streamlined and premiumized its wine and spirits portfolio. Even after selling off millions of cases of lower-end brands to Gallo and The Wine Group in the past few years, Constellation remains the third-largest wine marketer in the U.S. in volume terms. Southern Glazer’s now handles about 70% of its wine and spirits business.

While the portfolio still includes volume drivers like 7-million-case Woodbridge and 2-million-case Cook’s, Constellation’s wine and spirits range saw above-$15 bottles take a 63% share of sales in its fiscal year through February 2023, compared with a 58% share for bottles below that level in 2019. By fiscal 2028, the company is targeting a share in the mid-70s for above-$15 brands.

Looking ahead, the company believes it’s well-positioned with premium and above labels like Casa Noble, Meiomi, The Prisoner Wine Company, High West, Kim Crawford, and My Favorite Neighbor, with the potential for more higher-end “tuck-in” acquisitions in the future. In addition to those brands, the higher-end range includes Robert Mondavi Winery, Schrader, Double Diamond, Booker, To Kalon Vineyard Co., and Lingua Franca, among others.

Still, Constellation has been battling a tougher market environment lately, and in January downgraded its full-year guidance to down 7% to 9% in sales terms and 6% to 8% in operating income, “primarily due to broader marketplace deceleration and U.S. wholesale underperformance.”

Having completed its most recent fiscal year in February, Constellation is slated to issue full-year results on April 11. In the meantime, Glaetzer will look to hit the ground running. In accepting his new post he said the wine and spirits unit will aim “to more fully capitalize on our portfolio transformation and accelerate the overall performance of this business going forward,” adding that there is “a solid strategy and foundation for growth in place.”

Tagged : Casa Noble, Constellation Brands, Cook's, High West, Kim Crawford, Meiomi, My Favorite Neighbor, The Prisoner Wine Company, Woodbridge

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