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OFFON

CONSTELLATION BRANDS, INC.

(STZ)
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FTC Requires Gallo Winery to Sell Some Product Lines in Constellation Deal

04/05/2021 | 11:46am EDT

By Stephen Nakrosis

The Federal Trade Commission on Monday said it approved a final order which would require E. & J. Gallo Winery to divest certain product lines as part of its planned acquisition of assets from Constellation Brands, Inc.

"The final order requires Gallo to divest several product lines and remove certain others from its asset purchase agreement with Constellation," the FTC said.

The FTC said the final order settles charges that the acquisition would violate federal antitrust laws.

According to the complaint, the FTC said the proposed acquisition would likely "eliminate head-to-head competition between Gallo and Constellation, and substantially lessen competition in the United States for six types of wine and spirits products: entry-level on-premise sparkling wine, low-priced sparkling wine, low-priced brandy, low-priced port, low-priced sherry, and high color concentrates."

E. & J. Gallo Winery didn't immediately respond to a request for comment.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

04-05-21 1145ET

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Financials (USD)
Sales 2021 8 530 M - -
Net income 2021 1 984 M - -
Net Debt 2021 10 260 M - -
P/E ratio 2021 24,2x
Yield 2021 1,25%
Capitalization 45 794 M 45 794 M -
EV / Sales 2021 6,57x
EV / Sales 2022 6,52x
Nbr of Employees 9 000
Free-Float 71,1%
Chart CONSTELLATION BRANDS, INC.
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Constellation Brands, Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends CONSTELLATION BRANDS, INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 255,05 $
Last Close Price 238,86 $
Spread / Highest target 21,4%
Spread / Average Target 6,78%
Spread / Lowest Target -9,57%
EPS Revisions
Managers and Directors
NameTitle
William A. Newlands President, Chief Executive Officer & Director
Garth Hankinson Chief Financial Officer & Executive Vice President
Robert S. Sands Executive Chairman
Lee Tussing Chief Information Officer & Senior Vice President
Tiffanie de Liberty Chief Compliance Officer, SVP-Wine & Spirits
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