Constellation Brands : Gets FTC Approval for E. & J. Gallo Deal

By Matt Grossman

Constellation Brands Inc. received approval from the Federal Trade Commission for a deal to divest a portion of its wine and spirits portfolio to E. & J. Gallo Winery, Constellation said Thursday.

The deal, expected to close in the first full week of January, includes facilities in California, New York and Washington.

Constellation has also received approval from the FTC for separate transactions with Sazerac to divest Paul Masson Grande Amber Brandy, and with Vie-Del Co. to divest brands in Constellation's grape-juice-concentrate business.

The FTC has also approved Constellation's agreement with E. J. Gallo to divest the Nobilo wine brand, Constellation said.

Write to Matt Grossman at [e-mail]

(END) Dow Jones Newswires

12-24-20 0831ET