Constellation Brands has completed the sale of six wine brands, including Woodbridge, Meiomi, and Robert Mondavi Private Selection, to The Wine Group for an undisclosed sum. The deal, announced earlier this year, also included the transfer of three California facilities and nearly 3,000 hectares of vineyard.
The Wine Group, which owns brands like Love Noir, The Dreaming Tree, and Franzia, will welcome 500 new team members as part of the acquisition. John Sutton, CEO of The Wine Group, said, “We’re thrilled to close this exciting acquisition and welcome 500 new team members to our incredible team.”
Constellation Brands will focus on its higher-end wine portfolio, including brands like Robert Mondavi Winery, Schrader, Kim Crawford, and Ruffino. Bill Newlands, President and CEO, said, “We are pleased to have completed this transaction and look forward to executing against our repositioned portfolio, focused exclusively on the higher-end that more closely aligns to consumer-led premiumisation trends.”
Constellation Brands has retained several premium brands, including Robert Mondavi Winery, Schrader, Kim Crawford, and Ruffino. The company’s financial outlook for the next three fiscal years remains unchanged.
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