(RTTNews) - 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."
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
