WASHINGTON (dpa-AFX) - Constellation Brands Inc. (STZ, STZ-B) Thursday announced the acquisition of the remaining 50.1 percent stake in Italy-based Ruffino S.r.l. for 50 million euros, or $69 million from MPF International S.r.l. The transaction also sees Constellation assume a debt of approximately 55 million euros, or $73 million.
Rob Sands, president and chief executive officer at Constellation Brands said 'The prestigious Ruffino brand, which dates back to 1877, is an internationally recognized Old World wine brand that sets the standard for Italian wines.' Additionally, Constellation appointed Sandro Sartor as general manager of Ruffino, with effect from November 1, 2011.
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