Constellation Offloads Svedka

Dear Client:   Constellation Brands announced this morning it has reached an agreement to divest Svedka vodka to Sazerac. Svedka has been weighing down Constellation’s wine & spirits business for years. Divesting the brand builds on the company’s efforts to reshape the wine and spirits portfolio to the higher end. “The actions we have taken over the past several years to reshape our wine and spirits portfolio support our efforts to accelerate the performance of that business,” says Constellation chief Bill Newlands.