Constellation Brands will sell its Svedka vodka brand to alcoholic beverage company Sazerac in the coming months.

Svedka certainly doesn’t fall into the high-end spirits category, given that this vodka, which comes in many flavors, is priced at less than $20 per bottle.

Seeking to recapture the growth it once enjoyed in a futuristic advertising universe, Svedka is undergoing a rebranding campaign with DCX Growth Accelerator, an agency with links to the vodka ...