Constellation Brands Acquires Minority Stake in Chicago-based Crafthouse Cocktails
(Thomson Reuters ONE) -
~Establishes Constellation Ventures as a corporate venture capital function~
VICTOR, N.Y., August 18, 2015 - Constellation Brands, Inc. (NYSE: STZ and
STZ.B), a leading beverage alcohol company, announced today that it has acquired
a minority stake in Crafthouse Cocktails, a producer of authentic, ready-to-
drink, spirits-based cocktails. Crafthouse Cocktails will continue to operate
independently to produce, market and sell their products. Terms of the
transaction were not disclosed.
The investment is the first project for Constellation Ventures, a newly-created
corporate venture capital function within Constellation Brands' Growth
organization, focused on identifying smaller-scale investment opportunities
related to innovative concepts and emerging categories within beverage alcohol.
"We are moving forward in a competitive and ever-changing industry by
identifying opportunities for innovation, both inside and outside the company,
as part of our total growth strategy," said Bill Newlands, executive vice
president and chief growth officer, Constellation Brands. "Constellation
Ventures connects us with entrepreneurial brands and technologies, and allows us
to support consumer-proven products early in their lifecycle. We are excited to
work with the forward-thinking team at Crafthouse as they continue to grow their
brand and create new opportunities for consumers to enjoy a premium cocktail
experience."
Established in 2013, Crafthouse Cocktails uses natural, high-quality ingredients
to offer consumers the premium experience of a craft cocktail in a single pour
from a pre-mixed cocktail. Current product offerings include a bottled Moscow
Mule (vodka cocktail), Paloma (tequila cocktail) and Southside (gin cocktail).
These fast-growing premium cocktails can be found at retail in Illinois, Ohio,
Michigan and Colorado.
Co-founder of Crafthouse Cocktails, Charles Joly, a world-renowned and award-
winning mixologist, personally oversees the quality of every batch of cocktail
to ensure it meets his high standards. "What separates Crafthouse from other
pre-mixed cocktails is our commitment to using natural, premium ingredients to
produce an authentic, high-quality cocktail experience. We use the same
ingredients one would utilize in a bar to make a true, bottled cocktail," said
Joly. "We have developed the cocktails in such a way that every sip is just as
enjoyable and flavorful as the first, even after sitting in ice for 10 minutes.
We are very excited to have this support from Constellation Brands, a strategic
organization with dynamic people and a phenomenal portfolio."
"With our ability to see consumer trends emerge across the beer, wine and
spirits categories, we have a unique lens into what consumers are drinking when
and why. This knowledge is helping to drive our business strategy," said Rob
Sands, president and chief executive officer, Constellation Brands. "We know
there is exciting innovation happening in smaller, high-growth companies on the
leading edge of new consumer trends. We want to support these promising
entrepreneurs, like Crafthouse Cocktails, while gaining a deeper knowledge of
emerging opportunities and fueling total alcohol beverage category growth."
###
About Constellation Brands
Constellation Brands (NYSE: STZ and STZ.B) is a leading international producer
and marketer of beer, wine and spirits with operations in the U.S., Canada,
Mexico, New Zealand and Italy. In 2014, Constellation was one of the top
performing stocks in the S&P 500 Consumer Staples Index. Constellation is the
number three beer company in the U.S. with high-end, iconic imported brands
including Corona Extra, Corona Light, Modelo Especial, Negra Modelo and
Pacifico. Constellation is also the world's leader in premium wine, selling
great brands that people love including Robert Mondavi, Clos du Bois, Kim
Crawford, Rex Goliath, Mark West, Franciscan Estate, Ruffino and Jackson-Triggs.
The company's premium spirits brands include SVEDKA Vodka and Black Velvet
Canadian Whisky.
Based in Victor, N.Y., the company believes that industry leadership involves a
commitment to brand-building, our trade partners, the environment, our investors
and to consumers around the world who choose our products when celebrating big
moments or enjoying quiet ones. Founded in 1945, Constellation has grown to
become a significant player in the beverage alcohol industry with more than 100
brands in its portfolio, sales in approximately 100 countries, about 40
facilities and approximately 7,600 talented employees. We express our company
vision: to elevate life with every glass raised. To learn more,
visit www.cbrands.com.
About Crafthouse Cocktails:
Launched in 2013, Crafthouse Cocktails is a gluten-free, premium bottled
cocktail collection created by 2014 World Class Global Bartender of the Year,
Charles Joly, and hospitality veteran, Matt Lindner. The collection has three
timeless cocktails including the Moscow Mule, Southside, and Paloma. Each
cocktail features the industry's best spirits and finest, all natural
ingredients that can be simply poured over ice and enjoyed. Its mission is to
create a ready-to serve cocktail that allows consumers to have the next best
thing to going to a great cocktail bar or restaurant. Managing Director, William
Skelly, and Chief Mixologist, Charles Joly, along with the management team
at Crafthouse Cocktails are passionate about bringing world-class cocktails to
consumers in an honest and easily approachable format. For more information,
please visit www.crafthousecocktails.com.
CONTACTS:
Media
Cheryl Gossin: 585-678-7191
Amy Martin: 585-678-7141
Investor Relations
Patty Yahn-Urlaub: 585-678-7483
Bob Czudak: 585-678-7170
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Constellation Brands Inc via GlobeNewswire
[HUG#1946071]
Unternehmensinformation / Kurzprofil:
Datum: 18.08.2015 - 15:01 Uhr
Sprache: Deutsch
News-ID 414425
Anzahl Zeichen: 6932
contact information:
Town:
Victor
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 166 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Constellation Brands Acquires Minority Stake in Chicago-based Crafthouse Cocktails"
steht unter der journalistisch-redaktionellen Verantwortung von
Constellation Brands Inc (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
