Constellation Brands, one of the largest alcohol companies in the world, is selling off 40 of its "value" liquor brands, including affectionately remembered Mr. Boston, Skol, and Barton. The $334 million deal is with New Orleans-based Sazerac Company, Inc. and should close by the end of February. According to Constellation Brands CEO Rob Sands, the transaction "allows [Constellation] to continue the process of reducing debt, generating free cash flow and creating efficiencies…" They are retaining SVEDKA Vodka, Black Velvet Canadian Whisky and Paul Masson Grande Amber Brandy within their portfolio.
This article appears in Jan 7-13, 2009.