SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported) October 21, 1994
Commission File No. 0-7570
______
Delaware Canandaigua Wine Company, Inc. and its 16-0716709
subsidiaries
New York Batavia Wine Cellars, Inc. 16-1222994
Delaware Bisceglia Brothers Wine Co. 94-2248544
California California Products Company 94-0360780
New York Canandaigua West, Inc. 16-1462887
New York Guild Wineries & Distilleries, Inc. 16-1401046
South Carolina Tenner Brothers, Inc. 57-0474561
New York Widmer's Wine Cellars, Inc. 16-1184188
Delaware Barton Incorporated 36-3500366
Delaware Barton Brands, Ltd. 36-3185921
Maryland Barton Beers, Ltd. 36-2855879
Connecticut Barton Brands of California, Inc. 06-1048198
Georgia Barton Brands of Georgia, Inc. 58-1215938
New York Barton Distillers Import Corp. 13-1794441
Delaware Barton Financial Corporation 51-0311795
Wisoncsin Stevens Point Beverage Co. 39-0638900
New York Monarch Wine Company, Limited Partnership 36-3547524
Illinois Barton Management, Inc. 36-3539106
New York Vintners International Company, Inc. 16-1443663
_____________ _______________________________________ __________
(State or other (Exact Name of registrant as specified (I.R.S.
incorporation or in its charter) Employer
organization) Identification
Number)
116 Buffalo Street, Canandaigua, New York 14424
___________________________________________________________
(Address of Principal Executive Offices) (Zip Code)
Registrant's Telephone Number, Including Area Code (716)394-7900
_____________
Former Name, Former Adress and Former Fiscal Year, if Changed Since
Last Report
/TABLE
Item 5. Other events
On October 21, 1994 the Registrant announced that it expects
its net sales for the fiscal year ended August 31, 1994 ("Fiscal
1994") will be approximately $630 million, compared with net
sales of approximately $306 million for the Company's fiscal year
ended August 31, 1993 ("Fiscal 1993"), an increase of 106%. This
increase resulted from the inclusion of a full year of net sales
for Barton Incorporated acquired in June 1993, approximately 10
months of net sales of the Paul Masson, Taylor California Cellars
brands and other products acquired in October 1993 and
approximately one month of net sales of the Almaden and Inglenook
brands and other products acquired in August 1994.
The Company also announced that for Fiscal 1994 it expects fully
diluted earnings per common share to be in the range of $1.62 to
$1.65 per share, exclusive of the impact of a restructuring
charge which the Company will take in the fourth quarter of
Fiscal 1994, compared with fully diluted earnings of $1.20 per
share for Fiscal 1993. The Company estimates that the
restructuring charge will reduce after-tax net income by
approximately $14.8 million, or $0.91 per share. As previously
announced on September 7, 1994 the restructuring charge relates
to a plan to restructure the operations of the Company's
California wineries, including a consolidation of facilities,
centralization of bottling operations and reduction of overhead.
The Company anticipates that the restructuring plan will result
in cost savings of approximately $3.9 million (partially offset
by additional restructuring charges of approximately $2.2 million
for pre-tax savings of approximately $1.7 million) for the fiscal
year ending August 31, 1995 and approximately $13.3 million of
annual pre-tax cost savings beginning in fiscal 1996.
The foregoing information pertaining to Fiscal 1994 net sales and
earnings per share is based on unaudited financial information
and is therefore subject to the completion of the audit of the
Company's financial statements and appropriate year end
adjustments. The Company expects to announce its Fiscal 1994
audited results prior to November 15, 1994.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, each Registrant has duly caused this report to be signed
on its behalf by the undersigned, thereunto duly authorized.
CANANDAIGUA WINE COMPANY, INC.
Dated: October 21, 1994 By: s/Richard Sands s/Richard Sands
Richard Sands, President and
Chief Executive Officer
SUBSIDIARIES
Batavia Wine Cellars, Inc.
Dated: October 21, 1994 By: s/Richard Sands
Richard Sands, Vice
President
Bisceglia Brothers Wine Co.
Dated: October 21, 1994 By:s/Richard Sands
Richard Sands, Vice
President
Canandaigua West, Inc.
Dated: October 21, 1994 By:s/Richard Sands
Richard Sands, Vice
President
California Products Company
Dated: October 21, 1994 By:s/Richard Sands
Richard Sands, Vice
President
Guild Wineries & Distilleries,
Inc.
Dated: October 21, 1994 By:s/Richard Sands
Richard Sands, Chairman of
the Board
Tenner Brothers, Inc.
Dated: October 21, 1994 By:s/Richard Sands
Richard Sands, Vice
President
Widmer's Wine Cellars, Inc.
Dated: October 21, 1994 By:s/Richard Sands
Richard Sands, Vice
President
Barton Incorporated
Dated: October 21, 1994 By:s/Richard Sands
Richard Sands, Vice
President
Barton Brands, Ltd.
Dated: October 21, 1994 By:s/Richard Sands
Richard Sands, Vice
President
Barton Beers, Ltd.
Dated: October 21, 1994 By:s/Richard Sands
Richard Sands, Vice
President
Barton Brands of California,
Inc.
Dated: October 21, 1994 By:s/Richard Sands
Richard Sands, Vice
President
Barton Brands of Georgia, Inc.
Dated: October 21, 1994 By:s/Richard Sands
Richard Sands, Vice
President
Barton Distillers Import Corp.
Dated: October 21, 1994 By:s/Richard Sands
Richard Sands, Vice
President
Barton Financial Corporation
Dated: October 21, 1994 By:s/Raymond E. Powers
Raymond E. Powers,
Vice President
Stevens Point Beverage Co.
Dated: October 21, 1994 By:s/Richard Sands
Richard Sands, Vice
President
Monarch Wine Company, Limited
Partnership
Dated: October 21, 1994 By:s/Richard Sands
Richard Sands, Vice
President Barton Management,
Inc., General Partner
Barton Management, Inc.
Dated: October 21, 1994 By:s/Richard Sands
Richard Sands, Vice
President
Vintners International Company,
Inc.
Dated: October 21, 1994 By:s/Richard Sands
Richard Sands, President
/TABLE
INDEX TO EXHIBITS
(1) Underwriting agreement
Not Applicable.
(2) Plan of acquisition, reorganization, arrangement,
liquidation or succession
Not Applicable.
(4) Instruments defining the rights of security holders,
including indentures
Not Applicable.
(16) Letter re change in certifying accountant
Not Applicable.
(17) Letter re director resignation
Not Applicable.
(20) Other documents or statements to security holders
Not Applicable.
(23) Consents of experts and counsel
Not Applicable.
(24) Power of attorney
Not Applicable.
(27) Financial Data Schedule
Not Applicable.
(99) Additional Exhibits
None.