Constellation Brands Inc. has put its Canadian wine business on the block in an auction that could reap more than $1 billion, say people familiar with the matter.

The Victor, N.Y.-based company has already received offers for the Canadian business from several parties, including the Ontario Teachers’ Pension Plan and a potential buyer from the alcohol industry whose identity couldn’t be confirmed.

A Constellation spokeswoman declined to comment

The sale reflects Constellation’s strategic goal of streamlining its business to focus on premium wines and beer in the U.S. Publicly traded Constellation began as a bulk wine purveyor in the 1940s and expanded through the takeover of popular wine brands like Robert Mondavi and Clos du Bois.

Over the past year and a half, the company has agreed to buy Meiomi, a higher-priced Pinot Noir brand, and Prisoner Wine Co.’s portfolio of luxury wine brands. In 2013, Constellation acquired rights to Grupo Modelo’s U.S. beer business, which includes the popular Mexican beer brands Corona Extra and Modelo Especial.