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6 December 2024

Constellation Brands agrees to sell Svdeka brand to Sazerac

Constellation Brands agrees to sell Svdeka brand to Sazerac

Constellation Brands has reached an agreement with global spirits company Sazerac, to divest its Svdeka vodka brand for an undisclosed sum.


The decision builds on the international alcohol group’s strategic efforts to further align the wine and spirits portfolio with evolving consumer preferences and growing market sectors, focusing more on higher end wine and spirits brands.


In recent years, Constellation has divested most of its popular and mainstream wine and spirits brands within the portfolio. It will now focus on competing predominantly in premium and fine wine and craft spirits segments.


Bill Newlands, president and CEO for Constellation Brands, commented: “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”.


He added: “This transaction is another step forward in seeking to ensure that our wine and spirits portfolio is optimised to succeed and to meet our growth objectives.”


Jake Wenz, CEO of Sazerac, said that the Constellation team has built the Svedka brand a reputation for it high-quality vodka-making traditions, premium liquid standards and flavour innovation.


He continued: “We are honoured for this opportunity and excited to add Svedka to our global spirits portfolio featuring their award-winning vodkas, seltzers and gins”.


The transaction is subject to customary closing conditions, including receipt of regulatory approvals.


#ConstellationBrands #Sazerac #Svedka

ADM Corporate | Leaderboard | Feb 2025
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