Constellation Brands sells Canada arm, buys Millennial wines

Constellation Brands has sold its wine business in Canada, including award-winning Inniskillin estate, to a teachers’ pension fund for one billion Canadian dollars, and will buy a collection of new wave wine brands from Washington State. The move to sell up is part of Constellation’s plan to re-focus around premium and high end US wine brands aimed at millennials, alongside a burgeoning beer arm and small-scale spirits division.