Constellation Confirms Divestiture PlansFebruary 21, 2019
Last fall, reports surfaced that Constellation is mulling a sell-off of non-priority wine brands—including Clos du Bois, Cook’s, Arbor Mist, and Mark West—that could total $3 billion. In January, in response to a query on the subject, the company told SND that it’s “considering a variety of potential options to optimize and continue to grow our wine portfolio and profitability.”
Yesterday, Constellation CFO David Klein told the audience at the Consumer Analyst Group of New York conference in Florida that divestitures are indeed in the offing for non-priority assets. “Everything that’s not a power brand, you can assume that we’re either going to sell it, discontinue it, or milk it very quickly over the next year or so,” Klein said.—Daniel MarstellerSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.
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