Constellation Brands announced on December 3, 2024, that it has signed an agreement to sell its SVEDKA brand to global spirits company Sazerac, as part of its strategic portfolio restructuring. The transaction, subject to regulatory approvals, is expected to close in the coming months.The divestment aligns with Constellation's ongoing strategy to reshape its wine and spirits portfolio toward premium and fine wine segments. Over recent years, the company has been divesting popular and mainstream brands to focus on higher-end products that better match evolving consumer preferences and growing market sectors.CEO Bill Newlands emphasized that this move supports their efforts to accelerate business performance, while Sazerac CEO Jake Wenz expressed enthusiasm about adding SVEDKA's award-winning vodkas, seltzers, and gins to their global portfolio. Additional details about the transaction will be discussed at the 2024 Morgan Stanley Global Consumer and Retail Conference on December 3.

Constellation Brands announced on December 3, 2024, that it has signed an agreement to sell its SVEDKA brand to global spirits company Sazerac, as part of its strategic portfolio restructuring. The transaction, subject to regulatory approvals, is expected to close in the coming months.The divestment aligns with Constellation's ongoing strategy to reshape its wine and spirits portfolio toward premium and fine wine segments. Over recent years, the company has been divesting popular and mainstream brands to focus on higher-end products that better match evolving consumer preferences and growing market sectors.CEO Bill Newlands emphasized that this move supports their efforts to accelerate business performance, while Sazerac CEO Jake Wenz expressed enthusiasm about adding SVEDKA's award-winning vodkas, seltzers, and gins to their global portfolio. Additional details about the transaction will be discussed at the 2024 Morgan Stanley Global Consumer and Retail Conference on December 3.