Shrugging off the hostile reception to its previous takeover bid for Canada's largest winemaker famous for its ice wine brand, Inniskillin, US liquor giant Constellation Brands has finally struck an all-cash friendly deal to acquire Vincor International for $1.52bn, reports www.680news.com Vincor said it had signed a definitive agreement under which Constellation, the world's No. 1 wine producer that made M&A headlines after it acquired Robert Mondavi Corp. for US$1.3bn, will pay $36.50 a share and assume about $250 million in debt.

Vincor owns wineries in Canada, the US, Australia and New Zealand. Its top brands include Inniskillin, Jackson-Triggs, Toasted Head, Amberley, Kumala and Sawmill Creek. Located in Fairport, New York, Constellation, which beat E&J Gallo to become world's No. 1 in 2003, lords over more than 200 brands.