U.S. Markets open in 2 hrs 42 mins

Constellation Brands to divest part of its mainstream and premium wine portfolio to The Wine Group

Constellation Brands to divest part of its mainstream and premium wine portfolio to The Wine Group

Constellation Brands Inc. said Thursday it is divesting part of its mainstream and premium wine portfolio to The Wine Group in a move aimed at reshaping it toward the high end of the market. The deal includes Cooper & Thief, Crafters Union, The Dreaming Tree, Monkey Bay, 7 Moons, and Charles Smith Wines, and is expected to close later Thursday. Constellation divested most of its popular and mainstream wine and spirits portfolio in 2021 and is now focused on premium and fine wine and craft spirit