Constellation brands signs separate agreements to divest paul masson grande amber brandy and nobilo wine brands as part of company’s wine & spirits transformation

Victor, n.y., june 25, 2020 (globe newswire) -- constellation brands, inc. (nyse: stz and stz.b), a leading beverage alcohol company, today announced it has signed an agreement with sazerac company, inc., one of america’s oldest privately held distillers, to divest the paul masson grande amber brandy brand, related inventory and interests in certain contracts for an aggregate of approximately $255 million. the deal is subject to certain purchase price and closing adjustments, requires ftc review and clearance, and is expected to close in the second quarter of fiscal 2021.
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