Constellation Says It's Finally Done With Divestitures
Constellation Brands (NYSE: STZ) recently embarked on a divestiture program to shed low-priced beverages and struggling businesses. Now that it has completed the sale of its Paul Masson Grande Amber Brandy brand for $265 million, the last of the businesses it was selling, Constellation says it's ready to invest in the growth of its premium portfolio.
The owner of Corona beer, Robert Mondavi wine, and SVEDKA vodka, Constellation acquired an agglomeration of brands, including Ballast Point Brewing, for which it paid $1 billion in 2015 at the peak of the craft beer trend, and Canadian pot grower Canopy Growth, in which it invested $4 billion in 2018.
Image source: Constellation Brands.
Source Fool.com
