Constellation Brands Sells Biz Unit to Champ Private Equity

Wine company Constellation Brands will sell its Australian and U.K. business to Champ Private Equity for about 290 million Australian dollars ($290.5 million). Constellation will retain a roughly 20% stake in the business unit. The deal is expected to close by the end of January. Formed in 1987, Champ has offices in Sydney, Brisbane, Singapore and New York.

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