Constellation to sell wine business to Ontario Teachers' for $1.03 bln: Reuters
Constellation Brands Inc said it will sell its Canadian wine business to the private equity group of Ontario Teachers' Pension Plan in a deal valued at about $1.03 billion (US$775.02 million), Reuters reported. The sale, which includes the Jackson-Triggs and Inniskillin wine brands, is expected to close by the end of the calendar year, the company said. Constellation will continue ownership of Black Velvet Whisky and the related production facility in Lethbridge, Alberta. Seven of the company's wine brands are among the top 20 in the Canadian market, Ontario Teachers' said.
17 October 2016•2 mins read
