Constellation Brands Acquires A Minority Stake in The Bardstown Bourbon Company
Strategic Investment Provides the Fast-Growing, Largest New Whiskey Distillery in the United States with Strong Partner for Future Growth
Bardstown, KY (October 17, 2016) –The Bardstown Bourbon Company (BBCo), the largest new whiskey distillery in the United States, announced today that Constellation Brands acquired a minority stake in the company. This strategic opportunity provides BBCo with a strong platform to develop new brands and create a long-term supply of authentic, Kentucky whiskey, bourbon, and rye.
The Bardstown Bourbon Company recently developed a unique space in the American whiskey market with a first-of-its-kind Collaborative Whiskey, Bourbon, and Rye Distilling Program, which promises to expand the explosive growth of the craft distilling industry. Led by Bourbon Hall of Fame Master Distiller, Steve Nally – a 40-year veteran of the spirits industry and the former Master Distiller of Maker’s Mark – BBCo offers one of the most experienced whiskey-distilling production teams in the industry, with an average of 15+ years of experience working on world-class whiskey brands.
“This is an exciting and unique investment for Constellation, and different than the venture activity we’ve explored to date,” said Ben Dollard, senior vice president and chief growth officer, Constellation Brands. “Investing in a state-of-the-art bourbon facility at Bardstown provides us access to knowledge and production capability to support our emerging premium spirits portfolio over time. At the same time, Bardstown will grow with our investment as well as our experience in the beverage alcohol space, our relationships within the industry and our people.”
BBCo began commercial production in September 2016 and recently announced that it was already preparing to expand its current 1.5 million proof gallon capacity based on the success of the Collaborative Distilling Program. Over time, capacity will be expanded to 6 million proof gallons within the current design. Set on 100 acres of active farmland and adjacent to the Bluegrass Parkway, BBCo’s Napa Valley style destination experience, features a unique and transparent educational experience, high-end tours and tastings, integrated visitors center and event space.
“We are very encouraged to have Constellation as a strategic partner,” said David Mandell, President & CEO of BBCo. “Constellation’s investment and support will further help The Bardstown Bourbon Company reshape the American whiskey market.”
The Bardstown Bourbon Company will continue to operate independently and announced that Peter Loftin, entrepreneur and investor, was named Chairman of the Board of Directors for the Bardstown Bourbon Company.
ABOUT CONSTELLATION BRANDS
Constellation Brands (NYSE: STZ and STZ.B) is a leading international producer and marketer of beer, wine and spirits with operations in the U.S., Canada, Mexico, New Zealand and Italy. Constellation is a Fortune 500® company and one of the top performing stocks in the S&P 500 Consumer Staples Index. Constellation is the No. 3 beer company in the U.S. with high-end, iconic imported brands such as Corona Extra, Corona Light, Modelo Especial, ModeloNegra and Pacifico. The company’s beer portfolio also includes Ballast Point, one of the most awarded craft brewers in the U.S. In addition, Constellation is the world’s leader in premium wine, selling great brands that people love, including Robert Mondavi, Clos du Bois, Kim Crawford, Meiomi, Mark West, Franciscan Estate, Ruffino and Jackson-Triggs.
The company’s premium spirits brands include SVEDKA Vodka and Casa Noble Tequila. Based in Victor, N.Y., the company believes that industry leadership involves a commitment to brand building, our trade partners, the environment, our investors and to consumers around the world who choose our products when celebrating big moments or enjoying quiet ones.
Founded in 1945, Constellation has grown to become a significant player in the beverage alcohol industry with more than 100 brands in its portfolio, sales in approximately100 countries, about 40 facilities and approximately 9,000 talented employees. We express our company vision: to elevate life with every glass raised. To learn more, visit www.cbrands.com.
ABOUT THE BARDSTOWN BOURBON COMPANY
The Bardstown Bourbon Company is a celebration of the art of making whiskey. No secrets, mythical stories, or fabricated legends, the Bardstown Bourbon Company celebrates the craft of making great whiskey and the Bardstown community that brings bourbon to the world. BBCo started commercial production in September 2016 and is producing whiskey, bourbon, and rye for its own brands as well as for its Collaborative Distilling Program partners.
Located in the “Bourbon Capital of the World,” BBCo’s $25 million destination experience includes a first-of-its-kind Napa Valley style campus featuring a state-of-the-art whiskey distillery, unique and transparent educational experience, integrated visitors center, event space, whiskey library and bar, and eventually a restaurant and boutique hotel.
The company was founded in 2014 by Peter Loftin, David Mandell, Daniel Linde, and Garnett Black.
To learn more about The Bardstown Bourbon Company visit:
# # #