The Robert Mondavi Corp. has agreed to merge with beverage giant Constellation Brands, Inc., in a deal worth $1.36 billion.
Constellation will acquire all outstanding shares of Mondavi for $56.50 per share for Class A common stock and $65.82 for Class B common stock, according to news reports.
The deal is expected to be completed by the end of 2004 or early 2005.
Constellation Brands, based in Fairport, NY, has two operating divisions—Constellation Wines and Constellation Beers & Spirits with more than 200 beverage alcohol brands. It was founded in 1945 as a producer and marketer of wine products.
Robert Mondavi, based in Napa, CA, is a producer of fine wines from around the world. The company was established in 1966 with the founding of Robert Mondavi Winery in Oakville, California, and now produces, markets, and sells distinct wines from California, Italy, Chile and Australia.
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