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Constellation Brands recorded a 2.4% increase in year-on-year net sales to $2.1 billion
Constellation Brands acquired a minority stake in Colorado-based American craft rum maker Montanya Distillers.
The investment was made through Constellation Brands Ventures’ Focus on Female Founders program which makes meaningful investments in female-founded and female-led businesses doing disruptive and innovative work across beverage alcohol.
Karen Hoskin is Founder, President and CEO of Montanya Distillers, which will continue to manage, produce, market and sell its high-performing, award-winning rums such as Montanya Platino, Montanya Oro, and Montanya Exclusiva.
Montanya’s rums are distributed in over 40 states and 7 countries overseas and can be purchased online. The company was founded in 2008 by Hoskin and her husband Brice.
Terms of the transaction were not disclosed.
In its most recent quarterly results, Constellation Brands recorded a 2.4% increase in year-on-year net sales to $2.1 billion, driven by the growth of Modelo Especial beer.