Overview

• Constellation Brands has agreed to sell its Svedka vodka brand to Sazerac, with the deal expected to close in the coming months pending regulatory approvals.
• The sale aligns with Constellation's ongoing effort to shift its focus toward premium wine and craft spirits, responding to changing consumer preferences.
• Constellation's wine and spirits segment has underperformed, with a reported 12% drop in net sales and a $2.5 billion write-down earlier this year.
• Sazerac, known for brands like Buffalo Trace and Fireball, will add Svedka to its extensive global spirits portfolio.
• Additional details about the transaction will be shared during Constellation's presentation at the Morgan Stanley Global Consumer and Retail Conference on December 3, 2024.