Alert: Constellation Buys Remaining Stake in Ruffino

Dear Client: It seems that Constellation Brands and Ruffino have worked out their differences, as Constellation announced this morning that it has purchased the remaining 50.1% of Ruffino for approximately $69 million, making it the sole owner of Ruffino. As part of the transaction, Constellation will assume about $73 million in debt.You may recall that Constellation and Ruffino were engaged in a legal battle in the US. It first began when Constellation notified Ruffino that it was terminating its importation