Vincor shareholders approve takeover by Constellation

Somewhat to my surprise, the Constellation Brands bid to get control of Canada's largest vintner has succeeded:

Vincor CEO Donald Triggs told shareholders attending the firm's special meeting on Thursday the integration process would involve an unspecified number of layoffs.

"It's a new chapter in the company. I have every confidence that Vincor is going to be the brightest star in Constellation's galaxy," Triggs said.

"That said, the consolidation of the two companies is going to result in some lost jobs. That's very clear. And I must say, particularly in the finance area and in the international divisions, and I'm very sad about that."

Crossposted to Ontario Wine Blog.