Constellation Brands, Inc. (NYSE: STZ and STZ.B), a leading
beverage alcohol company, announced today that it has acquired a
minority stake in the fast-rising rosé label, La Fête du Rosé – a
brand created to cater to diverse drinkers who share common
interests across travel, food, experiences, and wine. The
investment was made through Constellation’s venture capital group
and represents the first company to receive investment dollars as
part of Constellation’s Focus on Minority Founders initiative,
which plans to invest $100 million in Black, Latinx, and
minority-owned businesses by 2030.
“We’re thrilled to jumpstart our Focus on Minority Founders
initiative with an investment in a fantastic consumer-oriented
brand and with a dynamic and proven industry leader behind it in
Donae Burston,” said Bill Newlands, Constellation’s president and
chief executive officer. “Minority-owned businesses are
under-represented in our industry and there is a real need to make
it more equitable for those businesses to receive access to
capital. This initiative enables us to play a role in creating
greater equity within our industry and provides an opportunity for
us to work with bold leaders and brands with unique value
propositions that align with our premiumization strategy. La Fête
du Rosé is certainly that, as Donae has taken a consumer-first
approach to building a distinctive rosé brand that authentically
reflects today’s multicultural consumer values.”
Founded in 2019 by Burston, a 15-year beverage industry veteran,
La Fête du Rosé was inspired by the popularity of rosé in the
French peninsula of Saint Tropez but built with the intention of a
fresh, modern, and inclusive brand geared toward rosé drinkers of
all backgrounds.
"People like to see themselves in anything, and that's what
we're trying to do with La Fête du Rosé – create an exceptional
liquid and brand that's focused on reaching a wider
audience," said Burston, founder & CEO of La Fête du Rosé.
“It has taken a lot of hard work to get the brand to where it is
today. Constellation Brands is the right partner to allow us to
scale the brand in a way that stays true to its ethos."
La Fête du Rosé – which translates to "the rosé party" – is
produced in conjunction with prestigious winemakers from Domaine
Bertaud Belieu, the oldest vineyard on the Saint Tropez peninsula
established in 1340. The delicious pink wine is known for its
refreshing taste, light alcohol content, and drinkability.
Since its debut, the brand has donated a portion of its proceeds
to various programs that send disadvantaged and underrepresented
youth on unique travel experiences and to organizations focused on
advancing racial justice and creating opportunities for people of
color in the wine & spirits industry.
“Donae and the La Fête du Rosé team have created a truly unique
and distinctive lifestyle brand, and we’re excited to collaborate
with them and share insights to fuel our collective growth,” said
Jennifer Evans, vice president, Constellation Ventures. “We look
forward to making future investments behind our Focus on Minority
Founders initiative and working with brands and companies that
align with our strategy of investing in emerging, higher-end brands
that have a point of differentiation in the marketplace.”
A component of Constellation’s multi-initiative racial justice
action plan aimed at achieving greater equity for African
American/Black and minority colleagues at Constellation, within the
beverage alcohol industry, and within the communities where the
company operates, Focus on Minority Founders will support the
growth and development of Black and minority-owned businesses by
providing funding and access to sales, marketing, operations, and
finance expertise through the Constellation Brands Ventures team
and Constellation’s many subject matter experts.
Earlier this year, Constellation announced a $10 million
investment commitment through Focus on Minority Founders in the
Clear Vision Impact Fund, LP -- a newly-formed investment vehicle
founded by Siebert Williams Shank & Co., LLC, with an objective
of making investments in minority-owned businesses, with an
emphasis on African American/Black-owned businesses.
The initiative is inspired by the success of Constellation’s
Focus on Female Founders program, which is committed to investing
$100 million in female-owned and founded companies. Since its
launch in 2018, Constellation’s Ventures portfolio mix has shifted
from 20% female-owned to more than 50% female-owned, reinforcing
the need for these initiatives and showing the measurable
improvement they can make in promoting greater equity within the
beverage alcohol industry.
The Focus on Minority Founders application can be found on
cbrands.com/story/ventures, and the evaluation process aligns with
Constellation’s ventures strategy of investing in emerging, unique
and distinctive brands. Constellation Brands Ventures continues to
look for brands that have a point of differentiation in the market;
companies that want to welcome Constellation Ventures as an active
minority investor; organizations looking to grow beyond their
current markets; and entrepreneurs who want to grow their business
with the support of Constellation’s investment, mentorship, and
involvement.
Terms of the transaction have not been disclosed.
ABOUT CONSTELLATION BRANDSAt Constellation
Brands (NYSE: STZ and STZ.B), our mission is to build brands that
people love because we believe sharing a toast, unwinding after a
day, celebrating milestones, and helping people connect, are Worth
Reaching For. It’s worth our dedication, hard work, and the bold
calculated risks we take to deliver more for our consumers, trade
partners, shareholders, and communities in which we live and work.
It’s what has made us one of the fastest-growing large CPG
companies in the U.S. at retail, and it drives our pursuit to
deliver what’s next.Today, we are a leading international producer
and marketer of beer, wine, and spirits with operations in the
U.S., Mexico, New Zealand, and Italy. Every day, people reach for
our high-end, iconic imported beer brands such as Corona Extra,
Corona Light, Corona Premier, Modelo Especial, Modelo Negra, and
Pacifico, and our high-quality premium wine and spirits brands,
including the Robert Mondavi brand family, Kim Crawford, Meiomi,
The Prisoner brand family, SVEDKA Vodka, Casa Noble Tequila, and
High West Whiskey.
But we won’t stop here. Our visionary leadership team and
passionate employees from barrel room to boardroom are reaching for
the next level, to explore the boundaries of the beverage alcohol
industry and beyond. Join us in discovering what’s Worth Reaching
For.
To learn more, follow us on Twitter @cbrands and visit
www.cbrands.com.
MEDIA CONTACTS |
INVESTOR RELATIONS CONTACTS |
Mike McGrew 773-251-4934 /
michael.mcgrew@cbrands.comAmy Martin 585-678-7141 /
amy.martin@cbrands.com |
Patty Yahn-Urlaub 585-678-7483 /
patty.yahn-urlaub@cbrands.comMarisa Pepelea 312-741-2316 /
marisa.pepelea@cbrands.com |
A downloadable PDF copy of this news release can be found
here http://ml.globenewswire.com/Resource/Download/dc73605f-ecfe-460e-980e-74ac547b2b16
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