Constellation Takes Majority Stake in Nelson’s Green Brier
This morning Constellation Brands announced it has acquired a majority stake in Tennessee-based Nelson’s Green Brier Distillery, marking the first Constellation Ventures investment to be fully integrated into the portfolio.
You’ll recall, Constellation took a minority stake in Nelson’s Green Brier in 2016 through its investment division Constellation Ventures.
“Our ventures group was created to identify up-and-coming brands, and we’re excited about one of our first ventures investments being folded into our portfolio,” says Constellation chief Bill Newlands. “Whiskey is a red-hot category, and Tennessee whiskey fills a white space for us.” He adds that they see the distillery “scaling even further” in the next few years.
As part of the agreement, the distillery’s existing management team led by co-founders Andy and Charlie Nelson will remain in place, as well as its current employees running the day-to-day operations.
“The relationship we’ve enjoyed over the past several years with Constellation has made it clear they’re the ideal partners to help us achieve the kind of growth we’ve been moving toward all along, while honoring the principles our customers have come to appreciate,” says Charlie Nelson.
Terms of the deal were not disclosed.
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