TORONTO – The Ontario Teachers’ Pension Plan is buying Constellation Brands Canada, the producer and operator of beer, wine and spirits businesses, for $1.03 billion.
The Mississauga, Ont.-based company owns three commercial wineries, five estate wineries and 163 Wine Rack retail locations throughout Ontario.
Get daily National news
Get the day's top news, political, economic, and current affairs headlines, delivered to your inbox once a day.
By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy.
Its domestic and international wines include brand names including Inniskillin, Jackson-Triggs, Kim Crawford, Robert Mondavi, Ruffino, Sawmill Creek and Wallaroo Trail.
Constellation Brands has operations in Canada, the U.S., Mexico, New Zealand and Italy.
The acquisition is expected to close before end of the year.
Ontario Teachers’ is the largest single-profession pension plan with $171.4 billion in net assets as of Dec. 31, 2015.
Comments
Want to discuss? Please read our Commenting Policy first.