Close the revised transaction to divest a portion of the wine and spirits portfolio to E. & J. Gallo
Not delivered by the deadline
AI-assessed · human review in progress Found and assessed by AI from the cited sources. Shown with its evidence; it is not counted in any Kept Score until confirmed.
- Announced
- 28 May 2020
- Due
- 31 Aug 2020
- Checked
- 18 Oct 2026
- Deadline
- Met
- Late
- Not met
- Today
What the company said
“The revised transaction is expected to close in the second quarter of fiscal 2021 and is subject to FTC review and clearance.”
What we found
Evidence strength A What the grades mean
The company failed to close the transaction by the second quarter of fiscal 2021 deadline, subsequently pushing the expected closing date to the third quarter of fiscal 2021, and finally closing in January 2021.
-
A Constellation Brands 8-K filed 2020-10-01
“The further revised Wine and Spirits transaction to sell a portion of the business to E. & J. Gallo Winery (“Gallo”) (the “Further Revised Wine and Spirits Transaction”) is now assumed to close by the end of the third quarter of fiscal 2021” ✓ confirmed on the page
-
A Constellation Brands 10-Q filed 2021-01-07
“In January 2021, we sold a portion of our wine and spirits business... We received cash proceeds of $559.5 million, subject to certain post-closing adjustments from the Further Revised Wine and Spirits Transaction.” ✓ confirmed on the page
Market reaction: the shares moved -4.6% against the S&P 500 over the three sessions around the disclosure (30 Sep 2020 to 5 Oct 2020). What this measures
Checked 18 Oct 2026.
Commitment DNA
The structured record of this commitment. Fields the company did not state are left blank rather than guessed.
- Event type
- Acquisition close
- Indicative materiality
- High rules
- Action
- Close
- Deliverable
- wine and spirits portfolio divestiture
- Where
- California, New York, and Washington
- Language
- Expected (“expects”, “plans”)
- In the company’s control
- Medium
- Specificity
- High
- Conditional
- Yes: subject to FTC review and clearance
- Depends on
- Regulatory, Counterparty
How this entry was checked
- Commitment recordedThe company's words were matched word for word against the filing.
- First checkAn AI model, Gemini (Google), read the company's later filings and recorded the outcome with a quoted passage.
- Second check: agreesA different AI model, Claude (Anthropic), re-read the evidence without being told the outcome and reached the same answer.
- Third check on a negative finding: disagreesBecause a negative finding could harm a company if wrong, a stronger model re-read the evidence fully blind and read it as “Late”, so a person decides.
Not yet confirmed. Shown on the record, but it will not count in any score until it is confirmed. How verification works
Are you Constellation Brands? You can publish an official statement next to this entry, free. Add a statement.
Is something here wrong or out of date? Companies and readers can ask us to check it. Please bring a link to a public source.
Report an error in this entry Reference: KI-C-2020-STZ-014326 · Corrections policy