Sazerac Buys Constellation’s Paul Masson Brandy for $255 Million

Dear Client:  Constellation Brands announced today it has signed an agreement with Sazerac to divest its Paul Masson Grande Amber Brandy brand, related inventory and interests for $255 million. The deal is subject to certain purchase price and closing adjustments and requires FTC review and clearance, per a release.You may recall, Paul Masson was initially included in Constellation's $1 billion+ sale to E&J Gallo, but was removed in the first revision of the deal to address FTC's competitive concerns [see WSD