Constellation Brands has amended its recent agreement to sell a portion of its wine and spirits portfolio to E & J Gallo Winery. Constellation’s Mission Bell facility will now be excluded from the transaction, bringing the revised transaction price to approximately $1.03 billion. The move was made to support Constellation’s production needs for sparkling wine following its decision to retain Cook’s California Champagne and J. Roget American Champagne.
Source: GlobeNewswire, May 2020