US drinks firm Constellation Brands has acquired Kentucky-based brandy producer Copper & Kings for an undisclosed sum.
In January 2018, Svedka vodka producer Constellation Brands purchased a minority stake in Copper & Kings through its venture capital arm, Constellation Ventures. The acquisition is the company’s first outright purchase through Constellation Ventures.
Jennifer Evans, vice president of Constellation Ventures, said: “When making a ventures investment, we look for brands that want to push boundaries, grow with consumers, and expand their current markets.
“Copper & Kings checks all those boxes, and we look forward to integrating them into our wine and spirits portfolio.”
Constellation said the deal is in line with the firm’s vision to offer a “bold and innovative, high-end portfolio of distinctive brands and products that deliver exceptional consumer experiences”.
”As an innovative distillery regarded for its experimental attitude and highly rated craft spirits, Copper & Kings American brandy represents a significant growth opportunity for us and reinforces our continued commitment to premium spirits,” said Bill Newlands, president and chief executive officer, Constellation Brands.
“American craft brandy is a fast-growing category that resonates with consumers, specifically among whiskey drinkers, and provides an excellent bridge between fine wine and craft Bourbon.
“Copper & Kings’ prime location in Bourbon country also presents an opportunity for Constellation to drive brand awareness and further expand the brand’s direct to consumer and retail routes to market.”
Since 2017, Constellation said the two companies have worked together to gain a greater knowledge of the American brandy category and boost awareness and distribution of Copper & Kings.
Founded in 2014 by Joe and Lesley Heron, Copper & Kings produces a range of spirits including brandy-based gins and liqueurs. The company uses unconventional methods to produce its spirits including sonic ageing and solera blending.
“As Copper & Kings moves into this next phase, we feel immense pride in what we’ve accomplished together with Constellation Brands,” said CEO Joe Heron.
“Copper & Kings and Constellation have had a symbiotic relationship right from the start. Because of that shared culture of innovation, entrepreneurship, and respect for the environment, as well as a good personal relationship, Lesley and I know we are leaving Copper & Kings in good hands. The stars are beautifully aligned.”
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Author: Nicola Carruthers