STZ to Divest SVEDKA Label to Reshape Its Wine & Spirits Portfolio [Yahoo! Finance]
Constellation Brands, Inc. (STZ)
Last constellation brands, inc. earnings: 4/3 07:30 am
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Source: Yahoo! Finance
The company has been seeing strength in the beer business for a while now. In the latest announcement, STZ unveiled an agreement with a global spirits company, Sazerac, to divest its SVEDKA brand. However, the financial terms of the deal have been kept under wraps. This agreement is built on Constellation Brands' strategic initiatives to align its wine and spirits portfolio to resonate well with the changing consumer preferences and increasing market sectors. Hence, the company remains focused on higher-end wine and spirits brands and products. In recent years, STZ sold most of its mainstream wine and spirits brands across its portfolio, thus aggressively concentrating on premium and wine and craft spirits segments. Such moves are expected to meet the company's growth goals and bolster its overall performance. The SVEDKA brand is popular for its premium vodka-making traditions, liquid standards and flavor innovation. This transaction is likely to conclude in the upcoming month
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STZ
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STZ
Sec Filings
- 12/3/24 - Form 8-K
- 11/22/24 - Form 4
- 11/22/24 - Form 4
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