Constellation Brands Completes Sale of Wine Brands and Winery (Beverage World)
Constellation Brands Inc., a producer and marketer of beverage alcohol, announced on Thursday, Feb. 28 that the company has completed the sale of its Almaden and Inglenook wine brands and the Paul Masson winery located in Madera, Calif., to The Wine Group LLC. The sale proceeds from the transaction, which were US$134 million in cash, will reportedly be used to reduce Constellation’s borrowings.
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