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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