The company said it signed an agreement with Sazerac to divest its SVEDKA brand on December 3, 2024. It said the transaction is expected to close in the coming months.

1. 01

   The company said it signed an agreement with Sazerac to divest its SVEDKA brand on December 3, 2024. It said the transaction is expected to close in the coming months.

2. 02

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

3. 03

   The company said it is reshaping its wine and spirits portfolio toward higher-end brands to align with evolving consumer preferences and growing market sectors. It said it has divested the majority of its popular and mainstream wine and spirits brands over the last few years and is focused on competing predominantly in premium and fine wine and craft spirits segments.

4. 04

   The company said Bill Newlands, President and Chief Executive Officer, described the transaction as another step toward optimizing its wine and spirits portfolio to meet its growth objectives. It also said Garth Hankinson, Chief Financial Officer, will provide additional commentary at the Morgan Stanley Global Consumer and Retail Conference on December 3.

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Original filing

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