Constellation Brands' Canandaigua Wine division paid $52 million for the company. The purchase was financed with Constellation's revolving line of credit. As part of the deal, Canandaigua has re-upped long-term grape supply agreements with Corus affiliates representing 1,000 acres of Washington and Idaho vineyards.
Some accounting and finance positions will be cut, but the company says they will be made up with new sale, public relations and marketing positions created for a new sales division that will open in Woodinville. Corus is the second largest wine producer in the Northwest after Woodinville-based Stimson Lane, which produces Ste. Michelle and other labels. Constellation is the second largest wine producer in the U.S. after the Ernest & Julio Gallo Winery in Sonoma, Calif.
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