Craft Brewer Funky Buddha Joins Constellation Brands
(Thomson Reuters ONE) -
Constellation Strengthens its Position in High-End Beer
VICTOR, N.Y., Aug. 10, 2017 (GLOBE NEWSWIRE) -- Constellation Brands, Inc.
(NYSE:STZ) (NYSE:STZ.B), a leading beverage alcohol company, announced today its
purchase of Florida-based Funky Buddha Brewery, reinforcing its strategy to lead
the high-end beer segment in the United States. Funky Buddha is the fastest
growing craft brewery in Florida, and produces bold craft beers made with high
quality ingredients. It has an award-winning portfolio led by Floridian
Hefeweizen and Hop Gun IPA. Funky Buddha joins Constellation's Craft & Specialty
Beer Group in the beer division.
A photo accompanying this announcement is available
at http://www.globenewswire.com/NewsRoom/AttachmentNg/3f69f036-
65a3-427c-89a4-1e46e59a89ff
Funky Buddha Lounge & Brewery was founded in 2010 in Boca Raton, Florida, by
husband and wife Ryan and Giani Sentz. As the demand for Funky Buddha's beers
skyrocketed, Ryan and Giani invited Ryan's brother KC Sentz, and his wife
Melissa Sentz, to join the business. In 2013, the Sentz family started Funky
Buddha Brewery, located in the heart of Oakland Park's burgeoning Culinary Arts
District. At 54,000 sq ft and with a capacity of 45,000 BBLs, Funky Buddha
Brewery is South Florida's largest craft microbrewery by size and volume, and is
Florida's busiest tap room by beer sales.
"We chose to partner with Constellation because we saw an alignment in vision
and felt they gave us the greatest opportunity for growth and development," said
Funky Buddha Head Brewer and President Ryan Sentz. "Constellation and Funky
Buddha share a lot of the same ideals and passion for philanthropy,
entrepreneurship and the art of craft beer. At the end of the day, we just
really like the people we have met within the organization, each of whom share
our dedication to making outstanding beer."
2016 was a breakout year for Funky Buddha Brewery, receiving five gold medals
in RateBeer's Best Awards. When it came to the Best Beers by Style, they
dominated the Imperial Porter category with three gold medals for Morning Wood,
Wide Awake It's Morning, and Last Buffalo in the Park. Maple Bacon Coffee Porter
and Last Snow Coconut Coffee Porter both received gold medals in the Best Beers
by Style Porter category. Maple Bacon Coffee Porter also was a Winner of
the World Beer Cup 2016 Gold Medal in the Specialty Beer category. And as the
engine behind these high-quality beers, the Funky Buddha team was recognized by
placing in the Top 100 Brewers category.
"Adding a fantastic regional brand such as Funky Buddha to our craft beer
portfolio, along with Ballast Point, advances our strategy in continuing to lead
the high-end beer segment," said Paul Hetterich, executive vice president and
president of the beer division at Constellation Brands. "The Sentz family has
created a culture of bold creativity, innovation and entrepreneurship. Those
qualities, combined with our beer division's market reach, distributor
partnerships, consumer insights, and our craft expertise within Ballast Point,
will help nurture and develop Funky Buddha's distinctive brand."
Constellation Brands and Funky Buddha Brewery's team of employees will continue
to work together, with Ryan and KC Sentz running the day-to-day operations.
Funky Buddha's standard of brewing will remain unchanged, delivering the same
culinary-style, creative beer consumers and craft beer enthusiasts celebrate
today.
Terms of the transaction were not disclosed.
About Constellation Brands
Constellation Brands (NYSE:STZ) (NYSE:STZ.B), a Fortune 500® company, is a
leading international producer and marketer of beer, wine and spirits with
operations in the U.S., Mexico, New Zealand, Italy and Canada. Constellation is
the No. 3 beer company in the U.S. with high-end, iconic imported brands such as
Corona Extra, Corona Light, Modelo Especial, Modelo Negra and Pacifico. The
company's beer portfolio also includes Ballast Point, one of the most awarded
craft brewers in the U.S. In addition, Constellation is the world leader in
premium wine, selling great brands that people love, including Robert Mondavi,
Clos du Bois, Kim Crawford, Meiomi, Mark West, Franciscan Estate, Ruffino and
The Prisoner. The company's premium spirits brands include SVEDKA Vodka, Casa
Noble Tequila and High West Whiskey.
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, about 40 wineries, breweries and distilleries, and
approximately 9,000 talented employees. We express our company vision: to
elevate life with every glass raised. To learn more, visit www.cbrands.com.
About Funky Buddha
Founded in 2010 in Boca Raton, Florida, Funky Buddha Brewery® is committed to
producing bold craft beers that marry culinary-inspired ingredients with time-
honored technique. Its lineup includes year-round brews Floridian Hefeweizen and
Hop Gun IPA, along with specialty releases such as Last Snow and the highly
sought after Maple Bacon Coffee Porter. Its Oakland Park production brewery
opened in June 2013 and distributes draught and bottled beer to retail outlets
throughout Florida.
Forward-Looking Statements
This news release contains forward-looking statements. The word "expect" and
similar expressions are intended to identify forward-looking statements,
although not all forward-looking statements contain such identifying words.
Those statements may relate to Constellation Brands' business strategy, future
operations, prospects, plans and objectives of management, as well as
information concerning expected actions of third parties. All forward-looking
statements involve risks and uncertainties that could cause actual results to
differ materially from those set forth in or implied by the forward-looking
statements. All forward-looking statements speak only as of the date of this
news release. Constellation Brands undertakes no obligation to update or revise
any forward-looking statements, whether as a result of new information, future
events, or otherwise.
In addition to risks associated with ordinary business operations, the forward-
looking statements contained in this news release are subject to other risks and
uncertainties disclosed from time to time in Constellation Brands, Inc.'s
filings with the Securities and Exchange Commission, including its Annual Report
on Form 10-K for the fiscal year ended Feb. 28, 2017, which could cause actual
future performance to differ from current expectations.
The photo is also available at Newscom, www.newscom.com, and via AP
PhotoExpress.
CONTACTS
Constellation Brands
Amy Martin
585-678-7141 / amy.martin(at)cbrands.com
Jamie Stein
312-873-9317 / jamie.stein(at)cbrands.com
Funky Buddha
John Linn
954-440-0046 / john(at)funkybuddhabrewery.com
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Constellation Brands, Inc via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 10.08.2017 - 15:05 Uhr
Sprache: Deutsch
News-ID 556099
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