NEW YORK Feb 6 Beer, wine and spirits company
Constellation Brands Inc. (STZ.N) will buy the Svedka vodka
brand and related businesses for $384 million, the company said
The sellers are Guillaume Cuvelier, creator of Svedka
vodka, and Belgian-based Alcofinance SA.
"Svedka complements and enhances our premium spirits
offerings by providing a popular and rapidly growing vodka
brand in the largest U.S. spirits category," said Richard
Sands, Constellation's chief executive officer. "It has strong
brand equity and positive momentum, which we can build upon
through increased U.S. distribution, as well as international
The deal is expected to close around March 1.
Constellation, owner of Robert Mondavi wine and Effen
vodka, has spent more than $4 billion in the last three years
expanding its geographic footprint with the acquisition of wine
companies BRL Hardy of Australia, Robert Mondavi of the United
States and Vincor of Canada.
Shares of Constellation were down 11 cents to $24.40 in
morning trade on the New York Stock Exchange.