Alert, Constellation Takes Stake in Black Button Distilling
Constellation Brands has taken a minority stake in New York-based Black Button Distilling through its investment arm, Constellation Ventures, per a release. No financial details were disclosed.
Black Button will continue to manage, produce, market and sell its portfolio which includes Straight Bourbon Whiskey, Citrus Forward Gin, seasonal Lilac Gin and Bespoke Bourbon Cream. With this investment, Constellation will help grow and expand the brands.
“For us to continue the growth rate we believe we are capable of, it was time to find an equity partner. But we didn’t want just any equity partner. We wanted someone who understood our business, our culture and our goals,” says Black Button founder Jason Barrett.
“Black Button has a proven track record of producing premium craft spirits that resonate with consumers and they have a variety of products that are aligned to consumer trends and fill white space within Constellation’s spirits portfolio,” says Constellation incoming ceo Bill Newlands.
You may recall, Constellation Ventures has made several craft spirits investments since it was established in late 2015 including Copper & Kings, The Real McCoy, Catoctin Creek Distillery, Nelson’s Greenbrier, High West (which it fully acquired) and Bardstown Bourbon Co.
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