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Constellation Brands continues craft spirits shopping spree with Durham Distillery stake buy

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Constellation Brands has made yet another craft spirits play in the US< this time buying into North Carolina-based Durham Distillery.

Durham Distillerys range comprises gin, vodka, liqueurs and pre-mixes

Durham Distillery's range comprises gin, vodka, liqueurs and pre-mixes

The group confirmed yesterday the acquisition of a minority holding the six-year-old company, which was founded by husband and wife Lee and Melissa Katrincic. Located in the city of the same name, Durham Distillery has focussed efforts on its higher-end Conniption gin brand, but also produces liqueurs spirits-based RTD pre-mixes and a cucumber vodka.

Details of the size of stake and price paid were not disclosed.

Constellation made the purchase through the 'Focus on Female Founders' programme, which was set up by its venture capital unit late last year. Melissa Katrincic will join the likes of Austin Cocktails' Jill Burns and Kelly Gasink and Karen Hoskin of Montanya Distillers on the programme.

"We … view this investment by Constellation as recognition that we have what it takes to lead in our category, and as the critical next step towards Conniption Gins' growth," said Melissa Katrincic. The financial injection will help Durham Distillery increase production and expand availability to other markets in the US.

Constellation added Colorado-based Montanya Distillers to its growing list of craft spirits investments last month.

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Expert Analysis

Gin & Genever (Spirits) Market in United States of America - Outlook to 2022: Market Size, Growth and Forecast Analytics

Gin & Genever (Spirits) Market in United States of America - Outlook to 2022: Market Size, Growth and Forecast Analytics

Gin & Genever (Spirits) Market in United States of America - Outlook to 2022: Market Size, Growth and Forecast Analytics is a broad level market review of Gin & Genever market in United States of Amer...

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