Constellation’s M&A Strategy Focused on Bolt-Ons, Venture Portfolio

Dear Client:   Earlier this month, Constellation Brands fully acquired Paso Robles-based My Favorite Neighbor LLC— which includes Booker Vineyard, My Favorite Neighbor and Harvey & Harriet wine brands— just a few months after taking a minority stake in the company through its investment arm, Constellation Ventures [see WSD 11-10-2021].  And according to Constellation chief Bill Newlands, we'll likely only see the company make similar bolt-on acquisitions in the near-term.  "We really don't see ourselves aggressively in the M&A business