Finance

Constellation Brands said Luca Zaramella, chief financial officer or Mondelez International, and William (Bill) T. Giles, former CFO of AutoZone were elected to the company's board of directors.  They were nominated by Elliott Investment Management, an activist investor that Wall Street analysts said they expected to help steer

Deutsche Bank analyst Mitch Collett upgraded Anheuser-Busch to Buy from hold and raised his target price to $60 from $52, arguing that the controversy surrounding Bud Light is coming to a close. Collett is very much in the lead on seeing an end to the Bud Light controversy.  Bud Lights

Wander + Ivy,  an organic single-serve wine brand, announces another seven-figure round of funding. In addition to surpassing fundraising goals, Wander + Ivy recently released its newest wine, a French Sauvignon Blanc, and expanded wholesale distribution to New York and Wisconsin, bringing the total brand footprint to 15 states. “Since founding the

If Christophe Navarre, the former CEO and chairman of Moet Hennessy, has his way, wine will soon be globally recognized as an investment class, similar to stocks, bonds, commodities, real estate and timber.   The vehicle for this transformation?  Cult Wines, which has been in business since 2007.  It is the

Constellation Brands said it priced the public offering prices of $750 million of 4.9% Senior Notes due 2033 at 99.306%. The notes will be senior obligations that rank equally with all of Constellation’s other senior unsecured indebtedness. Proceeds will be used for general corporate purposes.

Pronghorn announced four additional angel investments in Black-owned spirits companies –  Greenwood Whiskey, Red Hazel Whiskey, TCapri Tequila, IslandJon Vodka. * Greenwood Whiskey honors the Historic Greenwood District neighborhood in Tulsa, Okla., which saw the growth of 600 African American owned businesses - the largest concentration in the US in 1921. Greenwood

Fresh Vine Wine, Inc. announced the closing of its rights offering. The company received aggregate gross cash proceeds of approximately $3.14 million. The rights offering will result in the issuance of 3,143,969 shares of Fresh Vine Wine’s common stock and warrants to purchase 3,143,969

Rob McMillan, who was executive vp-Wine Division of Silicon Valley Bank until Friday when the Feds seized SVB, says the Wine Division was only 2% to 3% of the bank's overall business and had $1.4 billion in loans. As to the future of anything, McMillan hasn'

Barron's says it might.  Why would it sell a dependable source of dividends and (unlike tobacco, smokeless or otherwise) growth?  To use the proceeds to buy back its own shares.  Currently Altria holds $11 billion of Anheuser-Busch InBev stock.   So far this year, ABI stock, which closed at

Fresh Vine Wine, Inc. said the subscription period for the previously announced rights offering has begun. The subscription rights are non-transferable and may only be exercised during the subscription period, which will extend through 5 p.m. ET on March 9 unless extended or earlier terminated by Fresh Vine Wine.