The US-based owner of Nobilo Wines, Constellation Brands, announced on Thursday that the brand and its related assets will be sold to E.J Gallo Winery Inc. for $US130 million.
Nobilo Wines made sales of nearly $US40 million for around 550,000 cases of wine, in the year to August 2019.
Constellation anticipate the transaction to close during the first half of the 2021 financial year, and is subject to FTC and New Zealand regulatory approval.
