Oct 17 Constellation Brands Inc said it
will sell its Canadian wine business to Ontario Teachers'
Pension Plan in a deal valued at about C$1.03 billion ($775.02
The sale, which includes the Jackson-Triggs and Inniskillin
wine brands, is expected to close by the end of the calendar
year, the company said.
Constellation Brands will continue ownership of Black Velvet
Whisky and the related production facility in Lethbridge,
The company also said it will buy the Charles Smith Wines
collection of five super and ultra-premium wines from Charles
Smith Wines LLC for about $120 million to enhance its U.S. wine
Constellation's shares were up 2 percent at $173 in
premarket trading on Monday.
($1 = 1.3290 Canadian dollars)
(Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by