Constellation Brands has acquired the remaining interest in ready-to-drink cocktail company, Austin Cocktails.
The alcohol giant first invested in Austin Cocktails in 2018, as part of its Focus on Female Founders programme supporting female-founded or female-led businesses in the alcohol space and adjacent categories.
Austin Cocktails, which is currently distributed in 28 states, will be integrated into Constellation’s Fine Wine & Craft Spirits division.
The brand’s offerings include a Bergamot Orange Sparkling Margarita, a Cucumber Vodka Sparkling Mojito and its Ruby Red Cocktail.
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.”
Terms of the deal were not disclosed.
© FoodBev Media Ltd 2022
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