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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. ....
2021 sees spate of new drinks industry acquisitions 15 March 2021 By db staff Another day, another deal. Since Christmas the big drinks companies have been adding to their portfolios and reshaping their businesses at a hectic pace. An onlooker would easily conclude that the industry believes it is heading for a new period of substantial growth, with none of the major participants wanting to miss out. First off the mark in early January was Constellation Brands. The US$810m sale (with possible add ons) of its sub $11 commodity wines portfolio to Gallo had been long negotiated and needed revising several times to meet US Federal trade concerns, but immediately the ink was on the contract, Constellation reinforced its balance sheet through early redemption of $500m debts. ....
Constellation and SGWS expand US distribution deal 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.
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. ....