Constellation Brands buys stake in cocktail firm Crafthouse

So it’s craft cocktails now. The number three brewer in the U.S., Constellation Brands, with brands like Corona and Modelo, has acquired a minority stake in bottled cocktail brand Crafthouse Cocktails through its new start-up investment arm, media reported on 19 August 2015. The terms of the acquisition were not disclosed.

The Chicago firm Crafthouse Cocktails is the first minority acquisition of the recently launched Constellation Ventures, which was set up by Constellation to

identify small-scale investment opportunities related to innovative concepts and emerging categories.

Crafthouse Cocktails was co-founded in 2013 by the bartender Charles Joly, who was crowned winner of Diageo Reserve World Class 2014.

Mr Joly oversees the production of the Crafthouse cocktails portfolio, which currently includes the vodka-based Moscow Mule, tequila-based Paloma and gin-based Southside. Created using natural ingredients, the range is available in the off-trade in Ohio, Michigan and Colorado.

“We know there is exciting innovation happening in smaller, high-growth companies on the leading edge of new consumer trends,” said Rob Sands, President and CEO of Constellation Brands, in a statement.

“We want to support these promising entrepreneurs, like Crafthouse Cocktails, while gaining a deeper knowledge of emerging opportunities and fuelling total alcohol beverage category growth,” Mr Sands added.