Constellation's Svedka Sale Seen in Line With Business Plan -- Market Talk

Dow Jones12-04 03:05

1405 ET - Constellation Brands' move to sell its Svedka vodka brand to Sazerac is relatively small compared to Constellation's total topline, but the decision furthers a goal of aligning its wine and spirits portfolio with evolving consumer preferences, Citi analyst Filippo Falorni says in a research note. Constellation says it's focusing on the higher-end wine & spirits segment, Falorni adds. "We view the transaction favorably as it removes an underperforming brand from STZ's portfolio, further reducing the size of the wine and spirits segment," the analysts say. (sabela.ojea@wsj.com; @sabelaojeaguix)

(END) Dow Jones Newswires

December 03, 2024 14:05 ET (19:05 GMT)

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Constellation says it's focusing on the higher-end wine &amp; spirits segment, Falorni adds. \"We view the transaction favorably as it removes an underperforming brand from STZ's portfolio, further reducing the size of the wine and spirits segment,\" the analysts say. 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