Constellation acquires stake in Crafthouse Cocktails

• Constellation Ventures will invest in emerging companies in the alcohol beverage industry.
• Victor-based wine, beer and spirits maker acquires minority stake in Chicago-based Crafthouse Cocktails.

Constellation Brands has acquired a minority stake in Chicago-based Crafthouse Cocktails through a newly created venture capital arm to invest in emerging liquor, beer and wine companies and related technologies

The Victor-based wine, beer and spirits maker has formed Constellation Ventures to invest in smaller-scale opportunities related to the alcohol beverage industry. Terms of the Crafthouse Cocktails deal where not disclosed.

"We are moving forward in a competitive and ever-changing industry by identifying opportunities for innovation, both inside and outside the company, as part of our total growth strategy," said Bill Newlands, executive vice president and chief growth officer of Constellation Brands. "Constellation Ventures connects us with entrepreneurial brands and technologies, and allows us to support consumer-proven products early in their lifecycle."

Crafthouse Coacktails was established two years ago. It currently produces such ready-to-drinks as Moscow Mule (vodka cocktail), Paloma (tequila cocktail) and Southside (gin cocktail) for locations in Illinois, Ohio, Michigan and Colorado.

"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. This knowledge is helping to drive our business strategy," said Rob Sands, president and chief executive officer, Constellation Brands. "We know there is exciting innovation happening in smaller, high-growth companies on the leading edge of new consumer trends. We want to support these promising entrepreneurs, like Crafthouse Cocktails, while gaining a deeper knowledge of emerging opportunities and fueling total alcohol beverage category growth."

TCLAUSEN@DemocratandChronicle.com