USA – Constellation Brands, through its investment venture initiative Focus on Female Founders has acquired a minority stake in Colorado-based craft rum maker Montanya Distillers.
Focus on Female Founders program was launched last year with a focus on female-founded and female-led businesses doing disruptive and innovative work across alcoholic beverages.
Founded by Karen Hoskin who is also President and CEO, Montanya Distillers produces award-winning rums such as Montanya Platino, Montanya Oro, and Montanya Exclusiva.
With the transaction, Montanya Distillers will continue to manage, produce, market and sell its product portfolio.
Montanya’s rums are distributed in more than 40 states and seven countries overseas and can be purchased online.
Constellation Brands intends to invest US$100 million in female-founded or female-led businesses in alcoholic beverage categories in ten years running to 2028.
The program supports emerging brands and technologies that are in or adjacent to the beverage alcohol space through capital provision.
The company completed its first investments in two specialty beverage companies- Austin Cocktails and Vivify Beverages.
In February, Constellation Brands acquired a minority stake in US craft alcohol firm Black Button Distilling, expanding its spirits portfolio.
It also acquired a majority stake in Nelson’s Green Brier Distillery, a Tennessee-based whiskey producer.
Constellation had made its initial minority investment in the distillery through its venture capital arm in 2016.
In April, the company announced the divestiture of about 30 of its wine and spirits brands and six US winemaking facilities to E & J Gallo Winery for US$1.7 billion.
The transaction included brands such as Clos du Bois, Black Box, Estancia, Mark West, Wild Horse, Franciscan, and Ravenswood.