E. & J. GALLO WINERY AGREES TO MODIFY AGREEMENT WITH CONSTELLATION FOR PURCHASE OF NUMEROUS WINE BRANDS
12.12.2019
MODESTO, Calif. December 12, 2019 – E. & J. Gallo Winery (Gallo) announced today that it has agreed to modify its agreement with Constellation Brands, Inc. announced on April 3, 2019, for the purchase of a portfolio of wine brands, along with six winemaking facilities located in California, Washington, and New York.
According to Joseph E. Gallo, Chief Executive Officer of Gallo, “Both the Gallo and Constellation teams are committed to completing the transaction. We see a tremendous opportunity with this acquisition to bring new consumers into the wine category and look forward to integrating these brands into our portfolio and welcoming the new employees to our family winery.”
While Gallo continues to invest in its premium and luxury businesses, this purchase represents the company’s continued commitment to the wine industry and expanding its portfolio of offerings at every price point. Gallo plans to devote its efforts to revitalizing these brands, while continuing to make the highest quality wines for consumers to enjoy.
The modified transaction is subject to regulatory clearance and other customary and routine closing conditions. Gallo and Constellation currently expect to complete the transaction prior to March 1, 2020.
About GALLO
Founded in 1933 by brothers Ernest and Julio Gallo, GALLO is a family-owned company and global leader in wine and spirits. With a goal of serving joy in moments that matter, GALLO is deeply committed to providing the highest quality, sustainable products for every occasion. GALLO’s entire portfolio is featured here: https://www.gallo.com/portfolio/