Alert: Gallo in Talks to Buy Constellation Wine Biz
Constellation Brands may have already found a buyer for its wine business. E&J Gallo is reportedly in “advanced talks” with Constellation to purchase its low-end wine brands, people familiar with the situation told CNBC.
Reports surfaced in October that Constellation was looking to offload some of its US-based wine brands including the likes of Clos du Bois, Mark West, Arbor Mist and Cooks. And last month at the CAGNY conference, Constellation brass made it clear that sale was imminent [see WSD 02-21-2019].
Constellation’s wine business could go for around $2 billion, said one of the sources. Though CNBC notes that talks could easily fall apart as the two companies discuss which brands will be part of the sale.
“If at first you don’t succeed, find out if the loser gets anything.” – William Lyon Phelps
——- Sell Day Calendar ———
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