Constellation Brands, Inc. (STZ), a beverage alcohol company, said on Tuesday that it has reached a deal with the spirits company, Sazerac Company, Inc., to divest its Svedka brand.
The financial terms of the transaction, expected to be closed in the coming months, are not known.
Bill Newlands, CEO of Constellation Brands, said: "This transaction is another step forward in seeking to ensure that our wine and spirits portfolio is optimized to succeed and to meet our growth objectives."
For comments and feedback contact: editorial@rttnews.com
Business News
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.