Constellation Divests its “Mainstream” Wine to The Wine Group; Reports Beer Depletions Down 1% for Q4

Dear Client: After a notice last month that Constellation would post its quarterly results following market close today instead of its typical time before market opening, one had to assume something was coming down the pike from the company, and sure enough Constellation is unloading some of its wine business. The company announced just now that it will divest of its “primarily mainstream wine brands” through an agreement with The Wine Group (makers of Franzia, Cupcake, etc.). Brands heading over