Constellation Brands has completed the sale of US whiskey distiller Nelson’s Green Brier back to its founders.
The Modelo brewer said in a statement it had finalised the transaction on Monday (9 November).
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Belle Meade Spirits, set up by brothers Charlie and Andy Nelson, has acquired the distillery and brand inventory and will also “take over the lease for the distillery and event space”, Constellation said.
The Nelson brothers revived the Nelson’s Green Brier distillery in 2014. The site, setup by their great-great-great grandfather, had ceased production in 1909 when prohibition was adopted in Tennessee.
Constellation acquired a minority stake in the Nelson’s Green Brier in 2016 before moving to a majority shareholding three years later.
In its statement, Constellation said: “This transaction supports Constellation Brands’ focus on the specific consumer segments, channels and markets best positioned to drive long-term growth for our reshaped wine and spirits portfolio and we believe Nelson’s Green Brier will be well cared for by a local, family-run team connected to its roots.”
The proposed sale of the Nelson’s Green Brier inventory and distillery in Nashville, Tennessee, was highlighted in Constellation’s second-quarter results in August.
At the time, the group highlighted impairments related to the proposed divestment, as well as the sale of a clutch of New Zealand wine brands.
For the three months to the end of August, Constellation booked “asset impairment and related expenses” of $49.8m, and of $68.1m for the six months to the end of that month.
Just Drinks has approached the Nelson brothers and Nelson’s Green Brier for comment on the transaction.
In 2019, Nelson’s Green Brier’s portfolio included the brands Belle Meade Bourbon and Louisa’s Liqueur. Today, Belle Meade Bourbon has its own website which sells the namesake brand and Louisa’s Liqueur.
Just Drinks has approached the Nelson brothers to confirm whether they acquired these brands under Belle Meade Spirits.
