Constellation Brands Inc. agreed to sell its Canadian wine business to the Ontario Teachers’ Pension Plan for C$1.03 billion ($780 million), as the U.S. liquor giant focuses more on beer and premium drinks.Constellation expects to receive cash proceeds of C$750 million from the sale net of repayment of outstanding debt, according to a statement Monday. The transaction, which is subject to the standard approvals, is slated to close by the end of the calendar year, the Victor, New York-based company said. The sale marks a change in tack for the business: Constellation said in April that it would explore an initial public offering for some of the unit to strengthen its financial profile. Splitting off some of the wine portfolio makes Constellation more reliant on beer, a division that it expanded with the 2013 acquisition of the Corona business in the U.S. and continued with last year’s $1 billion takeover of craft brewer Ballast Point. “We seized the opportunity to sell the entire business in a value-enhancing transaction when it presented itself,” said Rob Sands, chief executive officer of Constellation.

“The Canadian wine business is the leader in the Canadian wine market and is a long-term growth opportunity.”best italian wine clubsConstellation’s shares fell 1.2 percent to $167.39 as of 12:29 p.m. Monday in New York. best bc wine under 15The stock had gained 19 percent this year as of the close of trading Friday.Ontario Teachers’, Canada’s third-biggest pension fund, said it will be partnering with the existing management team at Constellation Brands Canada, including CEO Jay Wright.best wine bars west london The business is “an ideal addition to our consumer portfolio,” Jane Rowe, Ontario Teachers’ senior vice president of private capital, said in a separate statement. best white wine for cocktails

“The company is already the undisputed market leader in the Canadian wine industry and has excellent potential for continued growth and value creation.”buy black ink wineEven as it offloads the Canadian business, Constellation is shoring up its lineup of pricier wines. best value wine awardsThe company announced Monday that it had agreed to acquire the Charles Smith collection of five super- and ultra-premium wines for about $120 million. Constellation also completed the purchase of High West Distillery and bought a minority stake in Bardstown Bourbon Co. Constellation has called itself Canada’s leading wine company. It owns seven of the nation’s top 20 table wine brands, with Jackson-Triggs ranking as the best-selling label and Inniskillin as the top icewine. Canada’s $9.2 billion wine market is forecast to expand at a 3.9 percent compound annual rate through 2020, according to Euromonitor Passport data.

Constellation acquired the Canadian business a decade ago in the acquisition of Mississauga, Ontario-based Vincor International Inc. for C$1.27 billion.Constellation, which also sells Robert Mondavi, Clos du Bois and Ruffino wines and Svedka vodka, has sought to move its drink portfolio upmarket by acquiring brands such as Ballast Point and the Prisoner Wine Co., a maker of super-luxury wines that owns the Saldo and Blindfold brands.Welcome to Last Week’s Column: The Sequel. If you missed the earlier instalment, here’s a recap: wines under $20. Today’s selections, however, skew more toward the mainstream – no roussannes or aglianicos, in other words.I remember when, in the 1980s, $10 was the great divide between the rich and the rest of us.That psychological price barrier persisted for a long time. But the quality pickings below $10 have grown slim. That’s especially true in British Columbia, where import prices give new meaning to “Rocky Mountain high.” (Note that one red listed here sells for $16.95 in Ontario and $21.99 in B.C.)

On the bright side, we have learned a few tricks over the years to enhance the flavour of bargain bottles, however one might define “bargain.” Big glasses: A large bowl that tapers inward at the rim helps amplify aromas and focus nuances into the nasal cavity, where most of the “tasting” takes place.Decanting: Contact with oxygen softens harsher elements and brings out the fruit. But you don’t need a decanter; just swirl in a (big) glass for a similar effect.Chilling your reds: This can make a huge difference. A quick detour in the fridge (say, 15 minutes) suppresses hot alcohol and astringency and lifts acidity. Much more than 15 minutes and most reds become muted.Warming your whites: We drink most whites too cold. Pull chardonnays and other fuller-bodied varietals from the fridge 20 minutes before pouring. Warmth brings out the complexity hiding below.Revelling in the deal: Keep reminding yourself that the qualitative difference between most $15 bottles and most $30 bottles is much less than a factor of two.

Porcupine Ridge Syrah 2011 (South Africa)The Porcupine is a monster for value, as many Canadians have discovered. It’s made by a great South African estate with the tongue-twisting name of Boekenhoutskloof. On the label is an artist’s sketch of the crested porcupine, the local inhabitant presumably forced to live life without ever getting a hug. The 2011 syrah is terrific, packed with dark fruit, black pepper, bacon drippings and spice – like a northern-Rhône syrah with more fat on its bones. Try it with stewed red meat. $17.99 in B.C., $13.99 in Alta., $17.30 in Que.De Martino Legado Reserva Carmenere 2010 (Chile)Ripe, with a raspberry core, this is well-crafted carmenere from a dependable producer, showing lots of herbal and earth tones and a smoky quality on the finish. Chunky and ideal for robust red-meat dishes.Small Gully Mr. Black’s Little Book Shiraz 2008 (Australia)A crowd-pleaser, to be sure. And at 15.2-per cent alcohol, one bottle might suffice for a crowd. Expect a mouthful of cherry juice, raspberry jam, vanilla and chocolate from this rich red, which finds good acid grip – and a whiff of not-so-welcome alcoholic heat – toward the finish.

Fleur de Coucou Touraine Sauvignon 2011 (France)Touraine lies west of famed Sancerre in the Loire Valley and excels with the same white grape, sauvignon blanc, at typically half the price. This gem is more exuberantly fruity than most Sancerres, with silky lemon and melon flavours leading the charge, but it delivers a strong essence of that prized flinty character for which Sancerre is famous. Try it with light seafood or young cheeses, particularly chèvre.Bellingham Chardonnay with a Splash of Viognier 2010 (South Africa)The name tells the tale. Chardonnay provides medium-full body and sweet apple, while viognier works its floral magic. A touch of spice and tangy acid give it lift.Tommasi Poggio al Tufo Sangiovese Cabernet Sauvignon 2010 (Italy)Tommasi is based in Veneto in the north, but the family bought an estate in the trendy Maremma district of Tuscany, from which they make this fine red, in 1997. There’s admirable tannic edge here in spite of the screwcap seal, which telegraphs early drinkability.

I like the initial softness, which carries plum, spice and tobacco before the astringent tannins kick in. Try it with rare lamb, beef or duck. $21.99 in B.C.Cono Sur Bicicleta Pinot Noir 2011 (Chile)Vineyard workers get around by bicycle at Cono Sur, hence the name of this line of well-priced wines. The 2011 pinot is among the best – and one of the few drinkable – pinots you will find at this price. It’s light-medium-bodied and silky, with fresh cherry and plum jam flavours enhanced ever so subtly by baking spices. Pair it with pork, poultry or grilled salmon. $11.49 in B.C., $11.99 in Sask., $11.99 in Man., $12.99 in N.B., $12.99 in N.S., $13.99 in PEI.Santa Rita 120 Cabernet Sauvignon 2011 (Chile)Richly fruity and concentrated for the money, this Chilean red displays a smooth core of cassis, then works in spice and charred cedar, with lively grip and a slightly dusty texture through the finish. Try it with rare beef or lamb. $12.99 in B.C., $11.24 in Sask., $12.99 in N.B., $12.99 in N.S., $13.99 in PEI.