Constellation Sheds Australian Assets

The common denominator in today’s issue is Australian wines. Constellation announced yesterday evening that it plans to sell three out of ten production facilities – in Clare and Padthaway in South Australia and at Mount Barker in Western Australia – and twenty vineyards to reduce debt. It also plans to consolidate bottling operations, streamline its portfolio and rationalize more than 30% of the company's Australian stock keeping units (SKUs). All wine brands will be retained.Roughly 350 employees, or 20% of