Operator
Welcome to the Constellation Brands Q3 fiscal year 2021 earnings conference call. [Operator instructions] I would now like to turn the call over to Patty Yahn-Urlaub, senior vice president of investor relations. Please go ahead.
Patty Yahn-Urlaub
Senior Vice President of Investor Relations
Thanks, Jonathan. Good morning, and welcome to Constellation s third-quarter 2021 conference call. I m here this morning with Bill Newlands, our CEO; and Garth Hankinson, our CFO. As a reminder, reconciliations between the most directly comparable GAAP measure and any non-GAAP financial measures discussed on this call are included in our news release or otherwise available on the Company s website at www.cbrands.com.
Constellation sees wine and spirits grow in Q3 thespiritsbusiness.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thespiritsbusiness.com Daily Mail and Mail on Sunday newspapers.
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Constellation Brands, Inc. closed its transaction with E. & J. Gallo Winery to divest a portion of Constellation’s wine and spirits portfolio principally priced at $11 retail and below, including certain related facilities located in California, New York, and Washington state.
The aggregate transaction price was approximately $810 million, consisting of approximately $560 million in cash paid at closing and the opportunity to receive up to $250 million in earnout payments if brand performance targets are met over a two-year period after closing. The transaction price reflects various adjustments of approximately $220 million related primarily to changes in inventory for which Constellation has already received the benefit.
Gallo finalizes blockbuster $810 million wine deal with Constellation Brands pressdemocrat.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from pressdemocrat.com Daily Mail and Mail on Sunday newspapers.
Paul Masson brandy sale gets green light 6th January, 2021 by Melita Kiely
The US Federal Trade Commission has authorised Sazerac’s US$255 million purchase of Paul Masson Grande Amber Brandy from Constellation Brands.
Constellation Brands has sold Paul Masson Grande Amber Brandy to Sazerac
The deal is subject to certain closing and post-closing adjustments, and is expected to close this month (January 2021).
The news comes with the completion of Constellation’s sale of more than 30 wine brands to E&J Gallo, including those priced at US$11 and below per bottle.
The deal is valued at around US$810m, comprising approximately US$560m in cash paid at the closing of the transaction with a potential payment of up to US$250m dependent on brand performance.