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May 30, 2022 View:

Constellation Group divests brandy's mid- to low-end brands

In late June, Constellation announced that it had signed an agreement with Sazerac Company, Inc, one of the oldest private brewers in the United States, to sell the brand name Paul MassonGrande Amber Brandy, its related inventory and its interest in certain contracts, for a total of approximately $255 million. The transaction is expected to close in the second quarter of fiscal 2021.

In April 2019 Constellation Group began divesting some of its mid- to low-end wine brands. Back in 2016, the company sold its Canadian wine business to the Ontario Teachers" Retirement Foundation for approximately $1.03 billion. Also earlier in 2008, Constellation had sold wine assets worth about $209 million to Eight Estates Fine Wines, LLC.