Gallo Buying More than 30 Wine and Spirits Brands from Constellation for $1.7 Billion

Dear Client: E. & J. Gallo Winery (Gallo) just announced it has entered into an agreement with Constellation Brands to purchase more than 30 wine and spirits brands, as well as six winemaking facilities located in California, Washington, and New York, for $1.7 billion. The transaction, which is subject to closing adjustments/conditions, is expected to close at the end of the company's first quarter of fiscal 2020. Sale brands include the likes of Clos du Bois, Black Box, Estancia, Mark