Constellation Puts Canadian Wine Business Up For Sale

The drinks giant hopes to receive more than $1 billion for assets that include Inniskillin

Peter Zwiebach

Oct 5, 2016

Constellation Brands has put its Canadian wine business on the block, and it’s likely to fetch more than $1 billion. Earlier this year, Constellation said it planned to explore an initial public offering for the Canadian business, which it added a decade ago by acquiring Vincor International—Canada’s biggest wine player—for around $1.1 billion.

But the IPO plans were scrapped after Constellation received bids for the business. According to a report in the Wall Street Journal, Constellation has heard several offers, including from the Ontario Teachers’ Pension Plan and a potential buyer in the drinks industry. A spokesperson for the Pension Plan declined to comment.

Constellation’s Canadian wine business includes wineries such as Jackson-Triggs and Inniskillin, along with a half-dozen others. The Vincor deal also included assets like New Zealand’s Kim Crawford and California’s Toasted Head, but neither of those brands are part of this sale.

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