Report: Corona-maker Constellation Brands may sell cheap wine brands to E. & J. Gallo

New York (CNN Business)Corona-maker Constellation Brands may sell off some of its lower-end wine brands to E. & J. Gallo Winery, according to CNBC. The deal is not confirmed and could still fall apart, CNBC reported, citing sources familiar with the situation. CNBC added that the specific brands up for sale are still being discussed. Recently, Constellation Brands has reported weakness in its low-end wine business. “We’re disappointed with the performance of our wine and spirits business as we’re facing challenges with the low end of the portfolio,” Constellation Brands CEO Bill Newlands said in January. E. & J. Gallo, which makes inexpensive products like André sparkling wines and Barefoot Wine, would make sense as a buyer for the lower-end …