E. & J. Gallo is purchasing approximately 30 wine and spirits brands from Constellation Brands for $1.7 billion, along with related facilities located in California, New York and Washington. The deal is still undergoing regulatory approval and is expected to close by the end of May.
According to Shanken News Daily, Constellation had been exploring selling its portfolio of labels retailing at $11 and below since last year. Clos du Bois, Black Box, Estancia, Mark West, Wild Horse, Franciscan and Ravenswood are among the wine brands included in the deal. This deal will allow Constellation to focus on premium brands moving forward, including Robert Mondavi, Kim Crawford, Simi, Ruffino, Meiomi, Schrader and Mount Veeder.
“This decision will help enhance organizational focus on a more premium set of wine and spirits brands that better position our company,” said Constellation president and CEO Bill Newlands.
See the full list of brands being sold:
Cribari Tables & Desserts
Paul Masson Grande Amber Brandies
Paul Masson Wines
Richards Wild Irish Rose
Taylor Tables & Desserts