Constellation Brands divests a further two brands

Paul Masson brandy and New Zealand-based Nobilo wines are the two brands divested by Constellation Brands as part of the company’s reorganisation plan aimed at premiumizing its portfolio and focusing on fast-growing high-end brands.

For Paul Masson brandy, the American giant has already reached a $255 million deal with Sazerac Company, one of the oldest distillers in the United States.

Constellation has signed a separate agreement with California-based group E&J Gallo to sell its Nobilo Wine brand for an estimated $130 million. Both transactions are expected to close by the end of 2021.

In August 2019, Constellation Brand sold its Canadian whisky operations for $266 million to Heaven Hill Brands along with its production facility in Alberta. The group, which is also a world leader in the beer sector, has production activities in the United States, Mexico, New Zealand and Italy.