Constellation Brands (STZ.N) said on Monday it agreed to sell its value spirits brands to Sazerac Co for $334 million, sending shares of the alcoholic drinks maker up 3 percent.
Constellation, the world's largest wine producer, said it will use an expected $210 million in after-tax proceeds from the sale to reduce its debt. It expects to close the deal by the end of February.
Constellatio ...