June 3, 2016 / 6:37 PM / 2 years ago

Constellation seeks C$1 billion valuation for Canadian wine unit: Bloomberg

(Reuters) - Constellation Brands Inc STZ.N is seeking a valuation of about C$1 billion ($772.02 million) for a possible initial public offering of its Canadian wine business this year, Bloomberg reported on Friday.

Bottles of the wine Clos du Bois, a brand of Constellation Brands Inc., sit on a supermarket shelf in Los Angeles, California April 1, 2015. REUTERS/Lucy Nicholson

The unit, which includes eight wineries and 160 retail locations across Ontario, is expected to list in Toronto as early as the fall, Bloomberg reported, citing people familiar with the matter. (bloom.bg/1Um5kXd)

Constellation produces the Jackson-Triggs and Inniskillin wine brands in Canada.

The company, which owns major brands such as Corona beer and Robert Mondavi wines, is working with Goldman Sachs Group Inc GS.N, Toronto-Dominion Bank TD.TO and Bank of Nova Scotia BNS.TO on the offering, Bloomberg reported.

Constellation Brands and the banks could not be immediately reached for comments.

($1 = 1.2953 Canadian dollars)

Reporting by Nikhil Subba in Bengaluru; Editing by Don Sebastian

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