Exclusive: Corona brewer Constellation seeks to sell U.S. wine brands - sources [Reuters]
Constellation Brands, Inc. (STZ)
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Source: Reuters
Exclusive: Corona brewer Constellation seeks to sell U.S. wine brands - sources | Reuters 4 Min Read (Reuters) - Constellation Brands Inc ( STZ.N ), the U.S. producer of Corona and Modelo beers, is looking to sell some of its U.S.-based wine brands, in a deal that could be worth more than $3 billion, according to four people familiar with the matter. Constellation’s review of its wine portfolio underscores the family-controlled company’s gradual shift to beer and cannabis products that target a younger demographic. Founded as a small wine producer in upstate New York in 1945, Constellation has grown to be worth more than $40 billion thanks to bets on offerings such as premium imported Mexican beers. Constellation, the third-largest brewer in the United States behind Anheuser-Busch NV ( ABI.BR ) and MillerCoors, has hired investment bank Goldman Sachs Group Inc ( GS.N ) to explore the divestitures, the sources said on Monday. Among the wine brands that Constellation is considerin
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