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Constellation’s wine and spirits sales fall 7% 9th April, 2021 by Nicola Carruthers
Svedka owner Constellation Brands saw full-year sales for its wine and spirits unit fall 7%, with a double-digit decline predicted for fiscal 2022.
The 30% ABV zero-sugar Svedka Pure Infusion range was released last year
In the 12 months to February 2021, Constellation Brands’ wine and spirits business saw net sales reach US$2.54 billion, down from US$2.72bn year on year. Operating income fell 12% to US$622.4 million.
In total, the company’s net sales rose 3% to US$8.6bn for fiscal 2021. The company’s biggest business, beer, increased net sales by 8% during the period.
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Constellation Brands Completes Wine and Spirits Transactions With E. & J. Gallo to Focus Portfolio on Consumer Premiumization Trends
Constellation Brands Completes Wine and Spirits Transactions With E. & J. Gallo to Focus Portfolio on Consumer Premiumization Trends
VICTOR, N.Y., Jan. 05, 2021 Constellation Brands, Inc. (NYSE: STZ and STZ.B), a leading beverage alcohol company, announced today that it has 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 transac
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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.
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.