Most of the wines brands being sold cost around $11 a bottle.
Constellation retains all of its beer brands, Svedka Vodka and several other wine labels including premium lines like Robert Mondavi.
"One of the hallmarks of our success over the years has been our ability to evolve and stay on the forefront of emerging consumer trends," said Bill Newlands, Constellation Brands president and CEO. "This decision will help enhance organizational focus on a more premium set of wine and spirits brands that better position our company to drive accelerated growth and shareholder value."
Constellation Brands reported on Thursday fourth-quarter adjusted earnings of $1.84 a share, higher than estimates of $1.72, but said it expects fiscal 2020 earnings of $8.50 to $8.80 a share, below forecast of $9.38. The 2020 estimate includes the impact of the sale of the wine brands.
The stock rose 0.9% in trading Thursday to $181.35.
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