Federal Trade Commission has asked Constellation Brands and E&J Gallo Winery for more information about the proposed sale of a number of Constellation’s lower-priced wine brands to Gallo.
The action extends the waiting period under the Hart-Scott-Rodino Act until 30 days after both Constellation and Gallo have substantially complied with the Second Request or such later time as the parties may agree with the FTC, unless the waiting period is terminated by the FTC.
Consequently, Constellation said it no longer expects the transaction to be completed in the first quarter of its 2020 fiscal year and now expects the Transaction will be completed in the second half of calendar year 2019.