Constellation sells wine business to a Canadian pension plan

A Victor-based company behind the Corona and Modelo line of beers and the country's third largest beer maker has completed a sale of its Canadian wine business.

Constellation Brands said it completed a sale Monday of wineries, vineyards, retail stores and its Jackson-Triggs and Inniskillin lines to the Ontario Teachers’ Pension Plan, the largest single-profession pension plan in Canada. The deal is valued at approximately $770 million or about $1.03 billion in Canadian currency.

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