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Constellation Brands finalizes divestiture of mainstream wine brands
Constellation Brands' headquarters in downtown Rochester. (Photo by Andrea Deckert)
Constellation Brands' headquarters in downtown Rochester. (Photo by Andrea Deckert)
Constellation Brands finalizes divestiture of mainstream wine brands
Constellation Brands Inc. has closed its previously announced transaction with The Wine Group of California; a move that allows the Rochester-based company to focus on a portfolio of higher-growth, higher-margin brands.
The transaction — of which financials were not disclosed — involved divesting primarily six mainstream wine brands and associated inventory, facilities and vineyards from Constellation Brands’ wine portfolio. Brands divested to The Wine Group include Woodbridge, Meiomi, Robert Mondavi Private Selection, Cook’s, SIMI and J. Rogét sparkling wine.
Constellation’s retained wine portfolio consists of a collection of wines from top regions around the world, predominantly priced at $15 and above.
It includes Napa Valley brands Robert Mondavi Winery, Schrader, Double Diamond, To Kalon Vineyard Company, Mount Veeder Winery and The Prisoner Wine Company; the My Favorite Neighbor family of wine brands from Paso Robles; Kim Crawford from New Zealand — producer of the top Sauvignon Blanc in the U.S.; Tuscan producer Ruffino Estates and Ruffino Prosecco; Sea Smoke from Santa Barbara’s Santa Rita Hills AVA, and Lingua Franca from Oregon’s Willamette Valley.
“We are pleased to have completed this transaction and look forward to executing against our repositioned portfolio, focused exclusively on the higher-end that more closely aligns to consumer-led premiumization trends which we believe will enable us to help deliver improved performance within this segment of our business over time,” said Bill Newlands, Constellation Brands’ president and CEO.
Constellation Brands ranked second on the most recent RBJ list of food and beverage manufacturers with 613 local employees.
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