Constellation Brands sells Canadian wine business; buys US-based Charles Smith Wines
The transaction includes Canadian wine brands such as Jackson-Triggs and Inniskillin, alongside wineries, vineyards, offices, facilities, and Wine Rack retail stores. The deal is subject to regulatory approval and is expected to close by the end of 2016.
Constellation Brands will continue ownership of Black Velvet Whisky and the associated production facility in Alberta, Canada.
Meanwhile, Constellation has also announced an agreement to acquire the Charles Smith Wines collection of five super and ultra-premium wines for $120m in order to enhance its US wine portfolio.
The acquisition is expected to close in October and includes Kung Fu Girl Riesling, Velvet Devil Merlot, Boom Boom! Syrah, Eve Chardonnay and Chateau Smith Cabernet Sauvignon.
Charles Smith Wines was launched in 2006, themed as ‘The Modernist Project,’ and focusing on creating wines to be enjoyed immediately.
In the spirits category, Constellation Brands' acquisition of High West Distillery was completed today.