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Ontario Teachers buys Constellation’s Canadian wine business for $1.03-billion Add to ...

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It’s five o’clock somewhere for the Ontario Teachers’ Pension Plan.

Teachers said Monday that it would acquire the Canadian business of Constellation Brands Inc. in a $1.03-billion deal that will give the pension plan control over many of the country’s top wine brands – and their vineyards and production facilities. It also marks the pension fund’s entry into the highly competitive alcoholic beverage industry.

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