STZ - Constellation Brands further divests a portion of its mainstream and premium wine portfolio to The Wine Group
- Constellation Brands ( NYSE: STZ ) to divest a portion of its mainstream and premium wine portfolio, including Cooper & Thief, Crafters Union, The Dreaming Tree, Monkey Bay, 7 Moons, and Charles Smith Wines to The Wine Group.
- This transaction is expected to close later today.
- The company divested the majority of its popular and mainstream wine and spirits portfolio in 2021 and is more focused on competing predominantly in premium and fine wine and craft spirits segments.
- “A key driver of our success has been our relentless focus on consumer preferences, including long-term consumer-led premiumization trends, and remaining agile in our approach to stay ahead of evolving marketplace dynamics,” said Robert Hanson, EVP & President, wine and spirits division. "This transaction will enable us to focus and shift our portfolio towards the higher end, positioning ourselves to continue delivering industry-leading growth and shareholder value with the right portfolio for our ambitions. In turn, The Wine Group is acquiring great brands that complement its current strategy of continuing to build a premium wine portfolio.”
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Constellation Brands further divests a portion of its mainstream and premium wine portfolio to The Wine Group