Constellation Brands is one of the largest owners of alcohol brands in the world. Of the over two dozen wine labels there is Robert Mondavi, Simi, The Prisoner, and Woodbridge. The several beer brands include Ballast Point, Modelo, and Corona. In spirits there's Black Velvet whisky and Casa Noble tequila among others. They recently made a large investment in a Canadian cannabis company. They were only about wine at one time. That sure has changed.
They want to sell off a number of their wine brands -- Clos du Bois, Mark West, Arbor Mist, and Cooks. Not sure why they picked these particular labels, but it signals an intent to move away from so much investment in wine and move more into beer and cannabis.
Constellation isn't get out of the wine business by any means as it still helps pay the bills. They seem to be moving upmarket to more expensive wine brands. Last year they bought Schrader of Napa Valley, a small producer of expensive Cabernet. But growth and profit margins are higher in beer right now. So this makes perfect sense for a publicly traded company to follow the money.
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