Constellation Brands has acquired a minority stake in Durham Distillery, a North Carolina-based spirits producer.
Co-founded by Melissa and Lee Katrincic in 2013, the brand makes Conniption Gin, Damn Fine Liqueurs, Cold Distilled Cucumber Vodka and ready-to-drink canned cocktails.
President and CEO Melissa Katrincic and her husband, head distiller Lee Katrincic, will continue to manage, produce, market and sell the brand’s portfolio, which is distributed internationally.
In a post on the distillery’s Facebook page, Melissa Katrincic said: “It’s hard to put into words what this means for us. If you’ve been on a distillery tour or met us at a local event over these past few years, you’ll undoubtedly have seen and heard just how much passion we have for what we do. Making world-class gins here in N.C. and developing a phenomenal local woman-led team is a dream come true.”
She added that all the brand’s products will continue to be distilled, produced and canned at its facility in downtown Durham.
The investment was made through Constellation Brands Ventures’ Focus on Female Founders programme, which was launched last year and aims to support female-founded or female-led businesses in the beverage alcohol space and adjacent categories.
The company intends to invest $100 million in female-led start-ups by 2028.
As part of the programme, Constellation last month acquired a minority stake in Colorado-based craft rum maker Montanya Distillers.
© FoodBev Media Ltd 2019
World Beverage Innovation Awards – ENTER NOW!
The awards celebrate excellence and innovation across the global beverage industry.
Don’t miss out on having your innovations recognised on a global scale.