Sector News

Constellation Brands buys stake in US firm Black Button Distilling

February 6, 2019
Food & Drink

Constellation Brands, through its venture capital group, has acquired a minority stake in US craft alcohol firm Black Button Distilling, in a move to fill white space in its spirits portfolio.

As part of the deal, Black Button will continue to produce, market and sell its range of spirits such as its Straight Bourbon Whiskey, Citrus Forward Gin, seasonal Lilac Gin and Bespoke Bourbon Cream.

The firm was founded in Rochester, New York, in 2012 by Jason Barrett. Sales have more than tripled since 2014, and in 2017 the company expanded and opened a tasting room and bottle shop in Buffalo, New York.

Over 90% of ingredients in Black Button’s spirits are grown or produced in New York State. It now makes 115,000 bottles of spirits each year, distributed in 11 US states and Japan.

Barrett said: “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.

“We found that partner right in our back yard. Constellation shares our love of western NY and they are also committed to the agricultural roots that are so important to Black Button. This partnership is great for our employees, our ownership, our farmers and our consumers because we will be able to bring more great Black Button products to our community.”

Bill Newlands, Constellation Brands COO and incoming CEO, added: “As a company headquartered in the Greater Rochester region, we’re especially proud to make this investment in this local favourite.

“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. With our shared knowledge, experience and guidance, we will work together to help Black Button grow and expand the brands that craft spirits enthusiasts have come to know and love.”

In its third-quarter results posted last month, Constellation recorded a 0.4% rise in net sales for its wine and spirits segment, while the firm’s beer division grew 16%.

Source: FoodBev

comments closed

Related News

May 21, 2022

Cécile Béliot becomes Bel Group CEO

Food & Drink

Cécile Béliot has assumed the role of Bel Group chief executive officer, following the decision to separate the roles of chairman and CEO. The separation of the functions will enable Bel Group to develop in three areas of healthy snacking. Meanwhile, the company’s former CEO, Antoine Fiévet, has had his mandate renewed as chairman of the board.

May 21, 2022

“Corporate greed and dereliction of duty”: FDA commissioner slammed over infant formula shortage

Food & Drink

US Food and Drug Administration (FDA) Commissioner Dr. Robert Califf was grilled by lawmakers during a House Appropriations subcommittee hearing, where he was slammed over the agency’s handling of the escalating infant formula shortage.

May 21, 2022

Sweegen hails antioxidants and bitter blocking tech a turning point for sugar reduction and healthy aging

Food & Drink

Sweegen is ramping up its efforts to reduce sugar across F&B applications while simultaneously tapping into the benefits of using antioxidants and bitter blocking technology. Speaking to FoodIngredientsFirst, Casey McCormick, vice president of global innovation at Sweegen, says product developers can find a broad range of solutions in Sweegen’s nature-based sweetener systems as brands elevate better-for-you foods.