The company once called Canandaigua Wine is making another move away from the wine business.
Constellation Brands announced it is selling off dozens of lower price wine and spirits brands.
The Victor-based company reached a $1.7 billion deal with E. & J. Gallo Winery in California.
Constellation will divest about 30 brands in all, most of which sell for around $10 a bottle.
The move allows the company to focus on its premium brands, like Mondavi, Corona and Modelo beers.
“One of the hallmarks of our success over the years has been our ability to evolve and stay on the forefront of emerging consumer trends,” said Bill Newlands, Constellation Brands president and chief executive officer. “This decision will help enhance organizational focus on a more premium set of wine and spirits brands that better position our company to drive accelerated growth and shareholder value.”
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