Announced
Financials
Tags
Friendly
brandy
Majority
Distillers and Vintners
Pending
Acquisition
United States
wine
Private
Disposal
Single Bidder
Domestic
Synopsis
Sazerac, a privately held American alcoholic beverage company, and E&J Gallo, a winery and distributor, agreed to acquire Paul Masson Grande Amber Brandy, a brandy brand, and Nobilo Wine, a wine brand, from Constellation Brands, an American producer and marketer of beer, wine and spirits, for $385m. Sazerac will acquire Paul Masson Grande Amber Brandy for $255m, and E&J Gallo will acquire Nobilo Wine for $130m. “These agreements represent another step forward in our efforts to transform our wine and spirits business. Thanks to the continued hard work of our Constellation team members, together with our distributor and retailer partners, our strategy continues to gain momentum. We look forward to closing these transactions in the coming months,” Bill Newlands, Constellation Brands President and CEO.
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