Constellation Brands, the leading wine, beer and spirits firm, has announced that it is taking a majority stake in US-based craft distiller Copper & Kings.
Based in Louisville, KY, Copper & Kings produces a range of “untraditional, non-derivative” spirits including apple and grape brandies, absinthe, gin and liqueurs that are said to be non-chill filtered with no added colours, flavours or synthetic chemicals.
In a statement, Constellation Brands said: “The collaboration brings together one of America’s most adventurous and innovative craft distillers with America’s most dynamic total beverage alcohol (TBA) company”.
Constellation Brands executive vice president and chief operating officer Bill Newlands added: “[Copper & Kings’] entrepreneurship and focus on premium high-end craft spirits aligns closely with our strategy of delivering what the consumer wants. Copper & Kings is scalable not only in equity, but also the inventory of aged and aging spirits on hand. We see our role as adding fuel to their fire. And we think it’s going to burn very bright”.
Terms of the deal were not disclosed.
Source: Constellation Brands (via Bevnet)
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