Constellation Brands, a New York-based beverage marketer, plans to sell its Value Spirits Brands unit to Sazerac Co. for $334 million.
Sazerac, which is located in Louisiana, is taking control of more than 40 brands, many of which are bar well brands, including Barton, Mr. Boston and Fleischmann’s, along with the Chi-Chi’s pre-mixed cocktail line. In 2008 the combined brands generated 10 million cases or approximately $200 million in sales. Sazerac also gets distilleries in Bardstown and Owensboro, Kentucky, as well as a leased bottling facility at Carson, Calif., as part of the deal.
Constellation retains the SVEDKA Vodka, Black Velvet Canadian Whisky and Paul Masson Brandy brands and its distillery in Lethbridge, Alberta.
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