Constellation Brands: disposal of Black Velvet Whiskey
(CercleFinance.com) - Constellation Brands announced on Tuesday the sale of the Canadian whiskey Black Velvet to the group Heaven Hill Brands for 266 million dollars, which will be fully paid in cash.
The American wine and spirits group justifies its decision by its desire to pursue its "premiumization" strategy, which includes a greater focus on high-end and high-growth brands.
The deal with Heaven Hill Brands includes the Black Velvet Distillery, located in Lethbridge, Alberta, and the rest of the whiskey brands produced on the site.
The deal is set to be completed by the end of the year.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The American wine and spirits group justifies its decision by its desire to pursue its "premiumization" strategy, which includes a greater focus on high-end and high-growth brands.
The deal with Heaven Hill Brands includes the Black Velvet Distillery, located in Lethbridge, Alberta, and the rest of the whiskey brands produced on the site.
The deal is set to be completed by the end of the year.
Copyright (c) 2019 CercleFinance.com. All rights reserved.