Constellation Brands: sells Svedka vodka brand

(CercleFinance.com) - Constellation Brands announced on Tuesday that it had reached an agreement to sell its entry-level vodka brand Svedka to the American spirits group Sazerac.


The New York-based group, which owns the Corona beer brand, Casa Noble tequila and High West whisky among others, justifies its decision by its strategy of positioning itself in the high-end segment of the wine and spirits market.

Constellation points out that in recent years it has divested itself of most of its most popular or everyday brands in order to focus on the sector's most premium categories.

The transaction, whose financial terms were not disclosed, is expected to be completed in the next few months.


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