Constellation Buys Five of Charles Smith's Washington Wine Brands for $120 Million

Constellation Brands added to its burgeoning collection of premium wine brands, announcing this morning an agreement to purchase five Washington brands from Charles Smith Wines for $120 million. The sale is expected to close later this month. With this deal, Constellation says it will become the second largest supplier of Washington state wines.

The deal features five wines that Charles Smith calls "the five core brands" of his company-Kung Fu Girl Riesling, Eve Chardonnay, Boom Boom Syrah, Velvet Devil Merlot and Chateau Smith Cabernet Sauvignon. Altogether, the brands add up to nearly 500,000 cases per year, selling mostly at $12 to $15 a bottle.

For the complete story see: Wine Spectator