Constellation Brands Inc., the world's largest winemaker, is shelling out $1.09 billion to buy Vincor International Inc., the Canadian company.
The purchase is Constellation's ninth since 2000 as it added Robert Mondavi Corp. and the Australian vintner BRL Hardy Ltd. Constellation had made two unsolicited bids and a hostile tender offer for Vincor late last year, all of which were rejected, before agreeing to a friendly takeover.
"We're combining our brands with the scale and distribution and marketing capabilities that the much larger Constellation brings to the party," Vincor CEO Donald Triggs said in a media interview.
Constellation is based in Fairport, near Rochester, NY. Vincor, founded in 1874, is based in Mississaugua, Ontario, but owns wineries in Canada, California, Washington, Australia and New Zealand, turning out such wines as Inniskillin, Toasted Head, Jackson-Trigg and Kim Crawford.
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