US – Constellation Brands has acquired a minority stake in US rosé wine brand La Fête du Rosé, as part of its initiative to improve capital access to minority-owned businesses.
The investment was made through Constellation’s venture capital arm as part of its Focus on Minority Founders initiative which aims to invest US$100 million to support the growth and development of Black, Latinx and minority-owned
Founded in 2019, La Fête du Rosé (meaning ‘the rosé party’ in French) was inspired by the popularity of rosé in the French peninsula of Saint Tropez, but built with the intention of a modern and inclusive brand catered to drinkers of all backgrounds.
The brand donates a portion of its proceeds to various organisations focused on advancing racial justice and creating opportunities for people of colour in the wine and spirits industry.
“Minority-owned businesses are under-represented in our industry and there is a real need to make it more equitable for those businesses to receive access to capital,” said Bill Newlands, president and CEO of Constellation Brands.
“This initiative enables us to play a role in creating greater equity within our industry and provides an opportunity for us to work with bold leaders and brands with unique value propositions that align with our premiumisation strategy.”
The investment comes over a year after Constellation acquired a minority stake in Press Premium Alcohol Seltzer through its Focus on Female Founders programme.
Donae Burston, founder and CEO of La Fête du Rosé, said: “It has taken a lot of hard work to get the brand to where it is today. Constellation Brands is the right partner to allow us to scale the brand in a way that stays true to its ethos.”
Svedka Cherry Limeade vodka debuts in US
In addition to investing in La Fête du Rosé, Constellation Brands has also expanded its Svedka Vodka portfolio with the introduction of a new Cherry Limeade flavour.
According to the company, the Svedka brand’s latest vodka features a ‘tangy’ combination of cherry and limeade flavours with a hint of sweet citrus and can be enjoyed on its own or in a range of cocktails.
Svedka Cherry Limeade is available across the US in 750ml and 1 litre bottles.
The new offering joins flavours including Blue Raspberry, Strawberry Lemonade and Mango Pineapple as part of the Svedka range.
Jaymie Schoenberg, senior vice president of brand marketing for Svedka Vodka said that the new Svedka Cherry Limeade was created out of a need to develop a flavour that “embodies the essence of summertime that we have all been looking forward to for so long”.
“Svedka Cherry Limeade is just that – a way to transform into the summer mindset in just one sip,” Schoenberg added.
Last year, Svedka Vodka released a new range of infused vodka products in the US which contain no sugar and are low in calories.
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