USA: Constellation Brands buys remaining stake in Austin Cocktails

Constellation Brands, a leading beverage alcohol company has acquired the remaining interest in ready-to-drink cocktail company, Austin Cocktails, from Austin, Texas.

The female-founded Austin Cocktails is said to be rapidly growing and to be famous for its premium, award-winning bottled and canned craft cocktails.

According to sources, Constellation Brands’ investment in Austin Cocktails started back in 2018 as part of Constellation Ventures’ Focus on Female Founders initiative and reinforces the company’s commitment to support female leaders across the industry and meet evolving consumer preferences.

Constellation Brands’ EVP and chief growth, strategy, and digital officer, Mallika Monteiro, said: “Austin Cocktails and its co-founders, Jill and Kelly, are at the forefront of understanding market trends toward premiumisation. The quality of their drinks is unmatched in the ready-to-drink category. We’re thrilled to have Jill and Kelly join our team and to leverage Constellation Brands’ scale and reach to support the continued rapid growth of Austin Cocktails’ outstanding products”.

Austin Cocktails, which is distributed in 28 states and reported a growth of 135% in 2021, will join Constellation Brand’s portfolio with brands such as High West and The Prisoner Wine Company.

Sources: Foodbev/CBrands