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Corona brewer Constellation is nearing a deal to sell some wine brands to E. & J. Gallo

https://www.cnbc.com/2019/03/15/corona-brewer-constellation-is-nearing-a-deal-to-sell-some-wine-brands.html
See More From: cnbc.com   ( Money & Markets > Headlines )

Mar 15, 2019 3:43 PM 1+ week ago

By contrast, its beer business has shown growth, with its Modelo brand over the past five years turning in compound annual growth of more than 20 percent.

Constellation's premium wine lines, which are priced at more than $11 per bottle, are still performing well. Those brands include Kim Crawford, Meiomi and Prisoner. New products like Meiomi Rose and Svedka Blue Raspberry are "exceeding our expectations," said Bill Newlands, who became CEO on March 1, in a recent earning call.

For privately held Gallo, the largest exporter of California wines, the deal could add to its scale

Shares of Constellation, which ...

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