US-based alcoholic drinks firm Constellation Brands has announced it has acquired a minority stake in Montanya Distillers, a US rum firm, for an undisclosed sum.
Montanya Distillers was originally founded in Silverton, CO in 2008 by Karen and Brice Hoskin and markets the Montanya Platino, Montanya Oro, Montanya Exclusiva, and Montanya Aniversaria range of rum. Montanya Distillers sells its rums in over 40 states and 7 countries around the world, as well as online.
Constellation Brands said it made the investment through Constellation Brands Ventures’ Focus on Female Founders program, which “makes meaningful investments in female-founded and female-led businesses doing disruptive and innovative work across beverage alcohol”.
In its own statement, Montanya Distillers said: “We are so fortunate to have Constellation as a strategic partner. The company will provide much-needed investment capital straight into the business, allowing us to increase production and expand distribution”.
Source: Constellation Brands / Montanya Distillers