FDBusiness.com

Constellation Brands Sells Canadian Wine Business For C$1.03 Billion

 Breaking News
  • Lactalis Expands in Infant Nutrition With €740 Million Acquisition Lactalis Group, the international dairy group based in Laval, France, is acquiring the Nutritional business of Aspen Pharmacare for €739.8 million (R12.9 billion). The business being acquired supplies a wide range of infant nutritional and growing-up milk products across both the premium and value segments. It manufactures and markets well established quality brands, including S-26, [...]...
  • Thatchers Cider to Invest £14 Million in New Cider Mill Thatchers Cider, the family owned English cider producer, is to invest £14 million in a new cider mill at its Myrtle Farm site in Somerset to meet growing demand for its products. The company has applied for planning permission and, if granted, the new mill would come on stream in 2019. “This investment is about our [...]...
  • Coca-Cola Great Britain Teams Up With Premier League Premier League and Coca-Cola Great Britain have announced a new three-and-a-half-year partnership, starting in January 2019. It is the first sponsorship Coca-Cola Great Britain will activate across multiple brands within its portfolio, showcasing a range of drinks including sparkling soft drinks, water and fruit-based drinks, with low and no-sugar options. The partnership will see Coca-Cola work [...]...
  • Barry Callebaut Completes $30 Million Capacity Expansion in North America Barry Callebaut, the world’s leading manufacturer of high-quality chocolate and cocoa products, has announced the completion of several expansion investments in three of its North American facilities located in St Hyacinthe, Quebec; Chatham, Ontario; and St Albans, Vermont. The investments amount to close to US$30 million and are in line with previously announced plans. Recent investments [...]...
  • Strong First Half From Hilton Food Group Hilton Food Group, the UK-based leading specialist international food packing business, has reported a 25.0% increase in turnover to £863.6 million and by 24.5% on a constant currency basis for the 28 weeks to 15 July 2018. Volumes increased by 12.7% reflecting growth in the UK, Ireland and Australia. Operating profit for the first half [...]...

Constellation Brands Sells Canadian Wine Business For C$1.03 Billion

Constellation Brands Sells Canadian Wine Business For C$1.03 Billion
October 19
14:28 2016

Constellation Brands has agreed to sell its Canadian wine business unit to Ontario Teachers’ Pension Plan, the largest single-profession pension plan in Canada, for C$1.03 billion (US$786 million). The transaction, which includes Canadian wine brands such as Jackson-Triggs and Inniskillin, wineries, vineyards, offices, facilities, and Wine Rack retail stores is subject to regulatory approval and is expected to close by the end of the calendar year. Constellation Brands will continue ownership of Black Velvet Whisky and the related production facility in Lethbridge, Alberta, Canada.

“In April, we announced plans to explore an initial public offering for a portion of our Canadian wine business as part of our strategy to focus on premium, high margin and high growth brands. We seized the opportunity to sell the entire business in a value enhancing transaction when it presented itself,” explains Rob Sands, president and chief executive of Constellation Brands. “The Canadian wine business is the leader in the Canadian wine market and is a long-term growth opportunity. Ontario Teachers’ Pension Plan is well-respected with a proven track record for supporting and growing their investments, so we know the business will be in good hands.”

To further enhance its US wine portfolio, Constellation Brands has just announced an agreement to acquire the Charles Smith Wines collection of five super and ultra-premium wines for approximately $120 million. With this acquisition, Constellation Brands will solidify its position as the second leading supplier of Washington State wines, gaining a collection of high quality wines that have strong consumer affinity and demand, and have shown double-digit volume growth over the last three years.

Related to its spirits portfolio, Constellation has completed its previously announced High West Distillery acquisition. The acquisition includes all of High West’s operations and its portfolio of distinctive, award-winning and high-end American straight whiskeys. With High West, which has experienced double-digit volume growth year over year for the past three years, Constellation Brands enters the dynamic and profitable high-end craft whiskey segment. Additionally, as part of the company’s venture activity, Constellation recently acquired a minority stake in Bardstown Bourbon Company

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • September 25, 2018PPMA Show 2018
  • September 27, 2018Int'l Fruit Show (eurofruit)
  • September 30, 2018Trade Fair for Butchers, Caterers and Meat Industry (Meat Expo)
  • October 1, 2018Poznan International Fair
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements