Constellation Brands Announces Minority Investment in Mezcal Producer
Corona-maker Constellation Brands has announced today it acquired a minority stake in the parent company of Mezcal El Silencio, a specially crafted, Los Angeles-based mezcal label and leader in the category.
While terms of the transaction were not disclosed, the group said that the investment was made through its venture capital group that ‘identifies and invests in premium emerging brands, reinforcing its strategy to stay ahead of evolving consumer trends’.
The collaboration allows El Silencio to invest in infrastructure and growth, while continuing to produce, market and sell its handcrafted artisanal mezcal products.
“We couldn’t be more excited about this partnership. For us, this is about the alignment of vision and ideas we share,” said Fausto Zapata, CEO and co-founder of Mezcal El Silencio.
“Constellation’s trailblazing vision, pioneering practices, genuine passion for craft spirits, and appreciation for creativity made this more of a love story than a business transaction.
“Connecting with the Constellation team the way in which we did was the real driver in this collaboration as we realised that both companies are made from the same DNA. We’re elated about working with the Constellation family to continue to elevate both El Silencio and the mezcal category.”
According to Constellation Brands, The mezcal market in the U.S. has grown exponentially in the last few years and is expected to continue to grow in demand year over year.
“Mezcal is one of the hottest trends in spirits right now, and we couldn’t be more excited to make our first ventures investment in the mezcal category with a brand as successful as El Silencio,” said Constellation’s President and Chief Executive Officer Bill Newlands.
“Fausto and the El Silencio team have done an incredible job of growing the brand, and with our own goal of continuing to build out our premium spirits portfolio, we see our investment as a great move for us and for El Silencio.”
© 2019 Checkout – your source for the latest Irish retail news. Article by Aidan O’Sullivan. Click sign-up to subscribe to Checkout.