Constellation Brands Sells Svedka Vodka to Sazerac to Refocus on Premium Spirits

The move is part of Constellation's strategy to optimize its wine and spirits portfolio and address challenges in the segment.

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.