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Constellation Brands venture fund opens with Crafthouse Cocktails stake

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A new venture capital fund run by Constellation Brands has made its first investment, a minority stake in RTD cocktail maker Crafthouse Cocktails.

Crafthouse Cocktails is Constellation Ventures first project

Crafthouse Cocktails is Constellation Ventures' first project

Constellation said it will aim to grow the Chicago-based Crafthouse brand, which is on the "leading-edge" of consumer trends, according to the company. Constellation will now target other small, high-growth companies through the new fund, which is called Constellation Ventures.

"With our ability to see consumer trends emerge across the beer, wine and spirits categories, we have a unique lens into what consumers are drinking when and why," said Rob Sands, Constellation's president & CEO. "This knowledge is helping to drive our business strategy."

Established in 2013, Crafthouse Cocktails claims to offer a pre-mixed "craft cocktail" in a single pour. Products include a bottled Moscow Mule, Paloma and Southside and are available in the off-trade in Illinois, Ohio, Michigan and Colorado. Crafthouse will operate independently to produce, market and sell their products, Constellation said.

Sands added: "We want to support these promising entrepreneurs, like Crafthouse Cocktails, while gaining a deeper knowledge of emerging opportunities and fuelling total alcohol beverage category growth."

This month, Constellation completed its US$315m takeover of the Californian wine brand Meiomi.


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