Alert: Constellation Sells 8 Wine Brands

Its official: Constellation announced today it has agreed to sell several brands to U.S. private equity firm Eight Estates Fine Wines (doing business as Ascentia Wine Estates), based in Sonoma, CA for up to $234 million. Geyser Peak, Buena Vista, Gary Farrell, Atlas Peak and XYZin in California, which were acquired from Fortune Brands in December 2007; Columbia Winery and Covey Run (including Sunnyside winery) in Washington State; and Ste. Chapelle in Idaho, all acquired in 2001 from Corus Brands.