STZ · 10-Q · 2026Q3 · Full report
Acquisitions and Divestitures
CONSTELLATION BRANDS, INC. · 2026-10-07 · Importance 65 · Surprise 60 · In source text
In October 2026, Constellation acquired SpikedAde, a spirit-based ready-to-drink brand, for an initial $75 million, with up to $278 million of contingent consideration payable over five years based on performance; results will be reported in Beer from the acquisition date. In April 2026, it purchased the remaining ownership interest in premium non-alcoholic brand HOPWTR, whose financial consideration was not stated in this section. In June 2026, it sold eight small-scale New Zealand mainstream wine brands and associated inventory, equipment, a winery, and vineyards, using net proceeds for general corporate purposes. The June 2, 2025 wine divestitures generated $846.5 million of cash proceeds used to repay debt; in the six months ended August 31, 2026, those divestitures reduced Wine and Spirits sales by $142.0 million and gross profit by $34.1 million.
Key facts
- Constellation Brands received $846.5 million of cash proceeds from its 2025 Wine Divestitures and used them to repay debt. source
- The SpikedAde acquisition agreement provides for contingent consideration of up to $278 million payable over five years based on the business's future performance. source
- In October 2026, Constellation Brands acquired the SpikedAde business for an initial purchase price of $75 million. source
- In April 2026, Constellation Brands purchased the remaining ownership interest in HOPWTR, a premium non-alcoholic brand that had been in its corporate ventures portfolio since 2021. source
- In June 2026, Constellation Brands sold eight small-scale domestic-market New Zealand mainstream wine brands and associated inventory, equipment, a winery, and vineyards. source
- On June 2, 2025, Constellation Brands sold and, in certain instances, exclusively licensed trademarks of a portion of its wine and spirits business, primarily mainstream wine brands and associated assets. source
- SpikedAde results will be reported in the Beer segment and included in Constellation Brands' consolidated results from the acquisition date. source
- Net cash proceeds from Constellation Brands' June 2026 New Zealand wine divestiture were used for general corporate purposes. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | negative | realized | -0.3% | In October 2026, Constellation Brands acquired the SpikedAde business for an initial purchase price of $75 million. |
| liability | negative | contingent | -0.1% | The SpikedAde acquisition agreement provides for contingent consideration of up to $278 million payable over five years based on the… |