Constellation Brands to buy Meiomi wine brand, profit rises 15 pct
July 1 (Reuters) - Constellation Brands Inc reported a 15.4 percent rise in quarterly profit, helped by higher sales of its Corona and Modelo beers, and said it would buy the Meiomi wine brand for about $315 million.
Net income attributable to the Constellation rose to $238.6 million, or $1.18 per share, in the first quarter ended May 31 from $206.7 million, or $1.03 per share, a year earlier.
Excluding items, Constellation earned $1.26 per share.
The alcoholic beverage maker's net sales rose nearly 7 percent to $1.63 billion.
(Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by Savio D'Souza)
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