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Breaking! Constellation divests approximately 30 brands from wine and spirits portfolio for $1.7 billion

April 03, 2019

Constellation Brands announced today it has signed an agreement with E. & J. Gallo Winery to divest approximately 30 brands from its wine and spirits portfolio principally priced at $11 retail and below, and related facilities located in California, New York and Washington for $1.7 billion, subject to closing adjustments. The transaction is also subject to the satisfaction of certain closing conditions, including the receipt of regulatory approval, and is expected to close at the end of the company's first quarter of fiscal 2020