Pursuits
Constellation Said to Plan IPO for Canadian Wine Unit This Year
- Alcoholic beverages producer said to hire Goldman, TD, Scotia
- Said seeking valuation of C$1 billion for Canadian division
Constellation Said to Plan IPO for Canadian Wine Unit
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Constellation Brands Inc., the beer, wine and spirits producer and marketer, is seeking a valuation of roughly C$1 billion ($771 million) for the initial public offering of its Canadian wine business later this year, according to people familiar with the matter.
The Victor, New York-based company, whose brands include Corona and Robert Mondavi wines, is working with Goldman Sachs Group Inc., Toronto-Dominion Bank and Bank of Nova Scotia on the offering, said the people, who asked not to be identified because the matter is private.