Corona brewer Constellation is nearing a deal to sell some wine brands to E. & J. Gallo [CNBC]
Constellation Brands, Inc. (STZ)
Last constellation brands, inc. earnings: 4/3 07:30 am
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Source: CNBC
Corona brewer Constellation is nearing a deal to sell some wine brands to E. & J. Gallo David Paul Morris | Bloomberg | Getty Images Bottles of Clos du Bois wine, distributed by Constellation Brands, are displayed for sale on a shelf at a BevMo! store in San Francisco, California. Constellation, which also sells Corona and Modelo beers, had hoped its wine business would fetch $3 billion. However, the sale is expected to be around $2 billion or less, said one of the people. Talks, however, are still ongoing and could fall apart. Among the points being discussed are which brands will be part of the sale. Constellation put its U.S. wine business, which includes brands like Clos du Bois, Mark West, Arbor Mist, up for sale last year as part of its push to move further into cannabis. Constellation is the third largest beer company in the United States, behind Anheuser-Busch Canopy Growth When millennials do drink, they increasingly turn to premium wine or other drinks like spirits and craf
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- 4/23/24 - Form 10-K
- 4/19/24 - Form 144
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