Constellation Brands invests in Durham Distillery
US drinks firm Constellation Brands has acquired a minority stake in North Carolina-based spirits producer Durham Distillery through its Focus on Female Founders programme.
Co-founded by husband-and-wife team Lee and Melissa Katrincic in 2013, the US distillery produces Conniption Gin, Damn Fine Liqueurs, Cold Distilled Cucumber Vodka, and a range of ready-to-drink canned cocktails.
President and CEO Melissa Katrincic and head distiller Lee Katrincic will continue to manage, produce, market and sell Durham Distillery’s portfolio, which is distributed internationally.
In a post on the distillery’s Facebook page, Melissa Katrincic said: “We’re honoured and humbled to announce that Constellation Brands has completed a minority investment in Durham Distillery.
“It’s hard to put into words what this means for us. If you’ve been on a distillery tour or met us at a local event over these past few years, you’ll undoubtedly have seen and heard just how much passion we have for what we do. Making world-class gins here in North Carolina and developing a phenomenal local woman-led team is a dream come true.”
The investment was made through Constellation Brands Ventures’ Focus on Female Founders programme, which supports female-founded and female-led businesses.
Terms of the transaction have not been disclosed.
In the last year, Constellation Brands has also increased its investment in Tennessee-based Nelson’s Green Brier Distillery and acquired a minority stake in Los Angeles-based Mezcal El Silencio.