OTHER NEWS - June 24, 1994

Vintner Buying 2 Big Brands: Canandaigua Wine Co., the nation’s second-largest winemaker, will acquire the Almaden and Inglenook Navalle wine labels from Heublein Inc., the companies said. Almaden and Inglenook Navalle are the third- and sixth-largest selling wine brands in the United States. Terms were not disclosed. Madera-based Canandaigua said it will also acquire Heublein’s wineries in Madera, Escalon, Paicines and Reedley, Calif.; the grape juice concentrate business at the Madera winery, and Heublein’s minority interest in Madera Glass Co. Net sales related to the assets and businesses being sold for the year ended Sept. 30 were about $235 million, Canandaigua said. The transaction is subject to negotiation of a definitive agreement and to regulatory and board approvals.