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Constellation Brands targets minority-owned US businesses with US$100m investment

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Constellation Brands is the latest beverage company to pledge money in support of black- and minority-owned businesses in the US.

Constellation Brands will invest the money through its venture capital arm

Constellation Brands will invest the money through its venture capital arm

The multi-category group unveiled plans today for its venture capital arm to spend US$100m over the next ten years on improving representation in the US alcohol industry. The donation follows a US$20m pledge from Diageo last week and financial commitments from other beverage companies.

"The conditions that have allowed systemic racism to persist in the US have existed far too long," said CEO Bill Newlands. "We categorically denounce bigotry, racism, and social injustice. We stand in solidarity with the black community and we are committed to achieving meaningful and lasting change."

As well as funding black- and minority-owned businesses through its venture capital group, Constellation is also reviewing its hiring practices to ensure African American and black talent is "supported and unconscious bias is addressed at all levels".

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