US: Constellation keeps mum on Beam Estate Wineries sales
Constellation Brands has stayed silent on reports that it may be selling three of its Beam Wine Estate wineries as well as 1,000 acres of vineyards in Sonoma County in the US.
Reports earlier this week claimed that the drinks company is mulling the sale of wineries including Geyser Peak, Buena Vista Carneros, and Gary Farrell, with the asking price standing at approximately US$200m. Proceeds from a potential sale would be used to pay debts at Constellation, the reports said.
Speaking to just-drinks today (7 February), however, a spokesperson for Constellation said: "Certainly, we don't rule out any potential transaction, but we also don't confirm or comment on rumours and speculation."
Last year, Constellation paid $885m to acquire Beam Global Wine & Spirits' US wine business.
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