logo
Plus   Neg
Share
Email

Constellation Brands To Sell Paul Masson Grande Amber Brandy, Nobilo Wine Brands

Constellation Brands, Inc. (STZ) has signed an agreement with Sazerac Company, to divest the Paul Masson Grande Amber Brandy brand, related inventory and interests in certain contracts for approximately $255 million. Separately, the company has agreed with E. & J. Gallo Winery to divest its Nobilo Wine brand and certain related assets and liabilities for $130 million.

"These agreements represent another step forward in our efforts to transform our wine and spirits business," said Bill Newlands, president and chief executive officer at Constellation Brands.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Walt Disney World, the Orlando, Florida-based entertainment complex, is easing the health safety guidelines that were rolled out to prevent the spread of the ongoing COVID-19 pandemic. The complex is ending temperature checks in a phased manner following the advice of the Centers for Disease Control and Prevention (CDC) and local health officials. Frito-Lay North America, the convenient foods division of food and beverages giant PepsiCo, Inc., is recalling select Ruffles All Dressed Potato Chips citing the possible presence of undeclared milk ingredients, a known allergen, the U.S. Food and Drug Administration said. According to the agency, the recalled products may have distributed regionally to Walmart's Sam's Club Warehouses. Pfizer Inc. (PFE) and BioNTech SE (BNTX) announced Friday that they have initiated the Biologics License Application (BLA) process with the U.S. Food and Drug Administration (FDA) for approval of their mRNA vaccine to prevent COVID-19 in individuals 16 years of age and older. The companies initiated...
Follow RTT