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Constellation sells Black Velvet Whisky to Heaven Hills for $266M

Constellation Brands is selling Black Velvet Canadian Whisky to Heaven Hills for $266 million in a deal that includes its production facility and other Canadian whiskey brands. "This decision aligns with our consumer-led premiumization strategy to deliver accelerated growth and shareholder value as we continue to focus our wine and spirits portfolio on higher-end, fast-growing brands," Constellation CEO Bill Newlands said.

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