More Color from Constellation Call; Penn Lege Passes Privatization Bill

Along with the announcement that it would purchase the Meiomi brand from Copper Cane & Provisions, Constellation delivered its first quarter results for fiscal 2016 this morning. Its wine portfolio has had some challenges in recent quarters, but things are looking up in 2016. During the first quarter, Constellation improved depletions (sales to retailers) and consumer takeaway trends in wine and delivered "excellent" sales and depletion growth trends for spirits. The division's depletions were up 3.5% overall. MEIOMI ACQUISITION: We