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News Category Global Banking & Finance Reviews 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. ....
What You Need To Know: Some deals will be allowed to close only after the parties agree to divest some assets to satisfy antitrust concerns. Buying divested assets can be a significant business opportunity for your company. Antitrust counsel can help you position your company for that opportunity, and help you avoid statements that can come back to haunt you. In the final weeks of 2020, opportunity knocked for Sazerac Company, Inc (Sazerac), Precept Brands LLC (Precept), and Vie-Del Company (Vie-Del) and each opened the door. After a 20-month investigation that found E. & J. Gallo Winery’s (Gallo) proposed $1.7 billion purchase of certain assets from Constellation Brands Inc. (Constellation) would eliminate head-to-head competition between Gallo and Constellation and likely substantially lessen competition in the U.S. for six types of wine and spirits products, the Federal Trade Commission (FTC) allowed the transaction to move forward with some help from Saze ....
Fingerlakes1.com Menu Have a tip for the newsroom, press release, local event listing or digital content to share? Send it here. Support our mission by visiting patreon.com/fl1 and becoming a monthly subscriber. 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. ....
linkedin VICTOR, N.Y., Dec. 24, 2020 (GLOBE NEWSWIRE) Constellation Brands, Inc. (NYSE: STZ and STZ.B), a leading beverage alcohol company, announced today that the U.S. Federal Trade Commission (FTC) has accepted the proposed consent order in connection with its transaction with E. & J. Gallo Winery to divest a portion of Constellationâs wine and spirits portfolio principally priced at $11 retail and below, including certain related facilities located in California, New York, and Washington state. This transaction is scheduled to close the week of January 4, 2021, upon which time final transaction details will be provided. The FTCâs acceptance of the proposed consent order also includes Constellationâs separate transactions with Sazerac to divest the Paul Masson Grande Amber Brandy brand and with Vie-Del Company to divest certain brands used in Constellationâs grape juice concentrate business. Additionally, the FTC approved Constellationâs separ ....
24 dic 2020 Constellation Brands Receives Clearance From the U.S. Federal Trade Commission to Close Wine and Spirits Transaction With E. & J. Gallo VICTOR, N.Y., Dec. 24, 2020 (GLOBE NEWSWIRE) Constellation Brands, Inc. (NYSE: STZ and STZ.B), a leading beverage alcohol company, announced today that the U.S. Federal Trade Commission (FTC) has accepted the proposed consent order in connection with 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. This transaction is scheduled to close the week of January 4, 2021, upon which time final transaction details will be provided. ....