OTPP caps C$1B deal for Constellation's Canadian wine business
October 20, 2016
Beverages | Mississauga, Canada | Buyout
The Ontario Teachers' Pension Plan has agreed to buy the Canadian wine business of Constellation Brands (NYSE: STZ) for about C$1 billion (approximately $762 million). The deal encompasses the sale of several prominent brands, including Jackson-Triggs, Inniskillin and Wine Rack. Constellation will retain its controlling stake in Black Velvet Whisky and the distiller's Canadian production plant in Lethbridge, Alberta. In a separate deal, Constellation has acquired a minority stake in Bardstown Bourbon.