Constellation Strikes a Deal with The Wine Group

Constellation has entered an agreement to sell the Almaden and Inglenook wine brands, and the Paul Masson winery located in Madera, California, to The Wine Group for $134 million in cash. The sale is a part of the company’s “ongoing effort to focus on its premium wine offerings in the U.S.” The transaction is expected to be closed by the end of Constellation's fiscal year on Feb. 29. The company says it will use the cash to reduce borrowings.The transaction