Constellation Brands has completed the sale of its Almaden and Inglenook wine brands, and the Paul Masson winery to The Wine Group (TWG).

The company said yesterday (28 February) that the wine brands and California-based winery were sold for US$134m in cash.

Proceeds from the transaction will be used to "reduce Constellation's borrowings," the company added.

TWG CEO David Kent said: "We are excited and pleased to welcome the Madera Winery and its historic Almaden and Inglenook brands into The Wine Group family. We plan to build upon the heritage of Almaden and Inglenook to make them even more relevant to today's wine consumer.

"As an organisation, we have experienced tremendous success in refreshing, revitalising and sometimes reinventing trusted brands such as these, and they will provide us the opportunity to prove ourselves once again."

San Fransisco's TWG produces brands including Franzia, Concannon and Big House.