Constellation Investing $20M in Wineries
(AP) — Constellation Brands will invest more than $20 million in several of its California wineries and vineyards this year to meet increasing demand.
The investments will expand its growing, crushing, fermenting, storing and bottling capacities.
Jay Wright, president of Constellation's wine and spirits division, said Thursday that the company sees a bright future for its California brands. It sells brands such as Rex Goliath, Black Box, Woodbridge by Robert Mondavi, Clos du Bois and Mark West wines.
The company also plans to add 15 to 25 employees to accommodate the increased production.
Constellation, based in Victor, N.Y., is also a beer importer with brands such as Tsingtao and Corona Light. It also sells spirits such as Black Velvet Canadian Whisky and Svedka vodka.
Shares of Constellation Brands Inc. slipped 3 cents to $57.44 at midday.