Constellation buys Fortune's US wine business

13 November, 2007

Drinks giant Constellation is to buy Fortune Brands' US wine business for $885 million (£427 million).

The sale includes wine brands Clos du Bois, Geyser Peak, Wild Horse, Buena Vista Carneros and Garry Farrell, as well as the associated vineyards, winemaking assets and sales organisation.

Fortune Brands initiated the sale after a review and the process resulted in multiple offers for the wine business. It will retain its Harveys sherry and Cockburn's port brands.

The deal should be complete by the end of December.




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Richard Hemming MW: beware inverse snobbery

Few things can bring communal pleasure so intimately as wine. Apart from a hot tub, perhaps. Sport can trigger mass jubilation, film gives us shared empathy, but wine has a nigh-unique ability to bestow conviviality among us through a shared bottle – which makes it especially galling that we spend so much time divided over it.

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