Constellation brands and e. & j. gallo agree to revise wine and spirits agreement in connection with federal trade commission review

Constellation brands and e. & j. gallo agree to revise wine and spirits agreement in connection with federal trade commission review.constellation brands - deal revised to address ftc areas of competitive concern primarily related to sparkling wine, brandy, dessert wine.constellation brands inc - transaction price will be revised to approximately $1.1 billion.constellation brands inc - agrees to enter an agreement with e. & j. gallo to divest its new zealand-based nobilo wine brand for $130 million.constellation brands - revised deal price of about $1.1 billion, of which $250 million is earnout based on divested brand performance over 2-year period.constellation brands inc - transaction is expected to close by end of fiscal 2020.constellation brands - will retain select brands in sparkling wine, brandy, dessert wine, and concentrate categories.constellation brands inc - revised deal & divestment of excluded brands are expected to close by end of fiscal 2020.constellation brands - will pursue other opportunities to divest brands excluded from agreement, which is aligned with co's portfolio strategy.constellation brands inc - nobilo wine brand deal is expected to close in first half of fiscal 2021.
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