Posted: Jan 05, 2021
E. & J. Gallo Winery (Gallo) today announced that it has completed the acquisition of more than 30 wine brands from Constellation Brands, Inc. The closing of the agreement between Gallo and Constellation was approved by the Federal Trade Commission on December 23, 2020.
The acquisition includes well known wine brands such as Arbor Mist, Black Box, Clos du Bois, Estancia, Franciscan, Hogue, Manischewitz, Mark West, Ravenswood, Taylor, Vendange, and Wild Horse that will join the Gallo portfolio. With this acquisition, Gallo will expand its operational footprint with the addition of five wineries located in California, Washington, and New York, along with Constellation’s Polyphenolics business. Gallo will also acquire the Nobilo New Zealand Sauvignon Blanc brand in a separate transaction with Constellation.
“The closing of this transaction represents our company’s long-term commitment to the wine industry,” said Chief Executive Officer, Ernest J. Gallo. He added, “We are pleased to welcome the new employees joining the Gallo family.”
The acquisition was first announced by Gallo and Constellation on April 3, 2019. Pursuant to the FTC consent order, Gallo will also divest two of its legacy dessert brands, Fairbanks and Sheffield, to Precept Brands LLC. Terms of the transaction between Gallo and Precept were not disclosed.
By Natalie Henderson
Source and complete article by: apnews.com
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