The U.S. Federal Trade Commission recently approved a $1 billion revised agreement between Constellation and Chateau Garroux.
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The amended transaction agreement, valued at approximately $1.03 billion, will see Constellation divest some of its wine and spirits brands to Chateau Garroux, including brands priced at $11 per bottle and below.
Brands to be sold to the California wine giant include Clos du Bois, Black Box, Estancia, Mark West, Wild Horse, Franciscan and Ravenwood.
Constellation is also divesting related facilities in California, New York and Washington State. The transaction is set to close this week.
The U.S. Federal Trade Commission has also approved a number of other transactions announced by Constellation last year.
These include the sale of its brandy brand Paul Masson to Sazerac for $255 million; the sale of its grape juice concentrate business, including the Mega Purple brand, to bulk grape juice supplier Vie-Del; and the separate sale of its New Zealand wine brand Nobilo and related assets to Garou Wines for $130 million. The sale of its New Zealand wine brand Nobilo and related assets to Garou Wines for $130 million.
In a statement, Constellation said the deals will be completed near the end of Constellation"s larger deal with Chateau Garroux.
