Constellation Brands has announced that it has acquired US craft spirits producer Copper & Kings American Brandy for an undisclosed sum.
Founded in 2014, Copper & Kings American Brandy uses a variety of production methods including small-batch copper pot-distillation, sonic ageing and solera blending to create spirits such as brandy, gin and absinthe.
Constellation Brands originally acquired a minority stake in the company through its Constellation Ventures arm in 2017, and the companies have worked in partnership to increase awareness and distribution of the Copper & Kings brand during this time.
According to a statement from Constellation Brands, the full purchase of Copper & Kings aligns with its strategy to transform its wine and spirits portfolio through an increased focus on premium products and brands.
Bill Newlands, president and CEO of Constellation Brands, said: ”As an innovative distillery regarded for its experimental attitude and highly rated craft spirits, Copper & Kings American Brandy represents a significant growth opportunity for us and reinforces our continued commitment to premium spirits.
“American Craft Brandy is a fast-growing category that resonates with consumers, specifically among whiskey drinkers, and provides an excellent bridge between fine wine and craft bourbon. Copper & Kings’ prime location in Bourbon Country also presents an opportunity for Constellation to drive brand awareness and further expand the brand’s direct-to-consumer and retail routes to market.”
Copper & Kings founder and CEO, Joe Heron, added: “As Copper & Kings moves into this next phase, we feel immense pride in what we’ve accomplished together with Constellation Brands.
“Copper & Kings and Constellation have had a symbiotic relationship right from the start. Because of that shared culture of innovation, entrepreneurship, and respect for the environment, as well as a good personal relationship, Lesley and I know we are leaving Copper & Kings in good hands.”
Constellation Brands has made a number of acquisitions and sales over the last year as part of its premiumisation strategy. This has seen the company acquire stakes in DTC wine firm Booker Vineyard; Empathy Wines; Press Premium Alcohol Seltzer and Karma Wellness Water in 2020, while the business also invested a further $174 million in Canopy Growth Corporation.
In addition, Constellation has also offloaded its Paul Masson Brandy and Nobilo Wine brands, and sold its concentrate assets to Del-Vie in July.
© FoodBev Media Ltd 2020
World Beverage Innovation Awards – NOW OPEN FOR ENTRIES!
The awards celebrate excellence and innovation across the global beverage industry.
Don’t miss out on having your innovations recognised on a global scale.
Deadline for entries 23 July – enter now!
Don’t get left behind
Start your free Foodbev magazine trial today and join thousands of fellow industry professionals in receiving food and drink trends direct to our business.
Click here to start your free trial