Constellation Brands has completed the acquisition of the Fortune Brands' US wine portfolio.

The companies said yesterday (17 December) that the US$885m deal, which includes wine brands including Clos du Bois, Wild Horse, Geyser Peak, Buena Vista Carneros and Gary Farrell, also involves the ownership of five Californian wineries, vineyards and a sales team.

Constellation Brands president and CEO Rob Sands said: "This acquisition is another significant step to expand our excellent portfolio of fine wine in the fast-growing super-premium and luxury segments of the US market."

Fortune Brands chairman and CEO Norm Wesley added: "The sale of our wine business will help us drive shareholder value in a couple of meaningful ways. It will help enhance the already high returns in our premium spirits business, which is the segment that generates our largest profit. Naturally, it will also increase our financial flexibility to focus resources on value-creating opportunities."

Constellation added that it is "formulating an integration plan for the acquired assets and will announce details when the plan is finalised".