Constellation Sells Black Velvet Whisky to Heaven Hill

Dear Client:As part of Constellation Brands' strategy to reshape its wine and spirits portfolio, the company announced it signed an agreement with Heaven Hill Brands to divest Black Velvet Canadian Whisky along with the brand's production facility in Canada for $266 million. The purchase includes all the distilling operations, aging and bottling facilities and the remaining portfolio of Canadian Whisky brands owned by Constellation, including Black Velvet, MacNaughton, McMasters and the international business of the Schenley brands - Golden Wedding and