The $1.7 billion (yes, BILLION) sale by Constellation brands to Gallo sent few shockwaves through the wine industry. Constellation had been looking to unload the majority of its lower-end wine brands for a while, and finally found a buyer in Gallo. Cheap wine isn’t profitable, so it’s no surprise the mega company wanted to dump the labels.
More than 30 wine brands were sold, including Mark West, Wild Horse, Franciscan, Clos du Bois, Back Box, Ravenswood, and Estancia. Gallo still holds the title of the World’s Largest Wine Company.
Curious how this sale will affect the wine market? Read more.