Constellation Brands is looking at acquisitions that will boost its premium spirits portfolio, though it has reiterated that it is not interested in buying Absolut owner V&S.

According to a report by the news agency Reuters, CEO Richard Sands said the company will look at businesses that help it expand in Europe, boost its portfolio of premium spirits, and fill out its wine portfolio around the world.

The newly installed CEO of the world's largest wine company added that he expected to make smaller bolt on acquisitions to fill holes in the wine portfolio, rather than pursue the kind of billion dollar deals the company has secured in recent years.