Constellation Brands (STZ) said Wednesday it agreed to sell several mainstream wine brands, along with related vineyards and facilities, to The Wine Group.
Brands including Woodbridge, Meiomi, Robert Mondavi Private Selection, Cook's, SIMI, and J. Roget sparkling wine will be transferred under the deal, along with associated inventory and infrastructure.
The deal is expected to close by Constellation's fiscal Q1 2026, pending regulatory approval, according to the company.
Financial terms were not disclosed.
Constellation is reviewing its organizational structure as it refocuses its wine and spirits portfolio on higher-margin brands priced largely at $15 and above.
The company said it expects the restructuring to generate more than $200 million in net annualized cost savings by fiscal 2028, with most changes expected to be implemented by fiscal 2026.
Shares of Constellation Brands were down over 3% in after-hours activity.
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