Get the app today! Download iPhone App Download Android App

Constellation Brands Agrees Sale Of Numerous Brands

Published on Jan 14 2021 8:19 AM in Drinks tagged: Trending Posts / Wine / Beer / spirits / Constellation Brands / E. & J. Gallo Winery / Vie-Del Company

Constellation Brands Agrees Sale Of Numerous Brands

US-based alcoholic beverages producer Constellation Brands has announced a streamlining of brands within its portfolio.

Constellation Brands has sold the Paul Masson Grande Amber Brandy brand, related inventory, and interests to Sazerac for approximately $265 million, subject to post-closing adjustments.

Transactions

Last week, Constellation divested a portion of its wine and spirits portfolio, including some related facilities, and its Nobilo wine brand, to E. & J. Gallo Winery. The group also divested certain brands used in its grape juice concentrate business, as well as related inventory, interests in certain contracts, and liabilities, to Vie-Del Company.

Bill Newlands, Constellation Brands’ president and chief executive officer, referred to the transactions as a way to help "accelerate revenue growth and operating margin performance by advancing our vision of building a winning portfolio of distinctive, higher-end brands".

Newlands added that the group can now concentrate its "resources and focus behind a smaller set of more premium brands that better align with consumer premiumisation trends" such as Corona beer and SVEDKA Vodka.

Advertisement

Constellation Brands has recently branched out into marijuana production as a means of diversifying its portfolio, acquiring a 38.6% stake in the Canadian marijuana producer Canopy Growth Corp.

© 2021 European Supermarket Magazine – your source for the latest retail news. Article by Conor Farrelly. Click subscribe to sign up to ESM: The European Supermarket Magazine.

Share on Facebook Share on Twitter Share on LinkedIn Share via Email