Constellation Brands Inc - a leading alcohol and beverage distributor - announced that it has acquired a minority stake in the fast-rising rosé label La Fête du Rosé.
According to the press announcement, the Black-owned brand, founded by winemaker Donae Burston, appeals to diverse drinkers who share common interests in travel, food, experiences, and wine. The terms of the deal were not made known.
May 13, Miami-based La Fête du Rosé posted a Facebook message stating that Constellation Brands Inc. would invest $100 million in African-American/Black and smaller owned alcoholic beverage and related businesses by 2030.
"We are pleased to say that La Fête du Rosé is the first company to secure a deal from Constellation Brands Ventures. We are 100% devoted to our mission of dispelling rosé stereotypes and creating a brand that speaks genuinely to diverse and multicultural customers," the post said.
CBS Miami also stated that Jennifer Evans, vice president of ventures at Constellation Brands Inc, composed in an email that Burston has created a truly unique and distinctive lifestyle brand. It is believed that the rosé category continues to have much growth potential. In addition, Evans praised La Fête du Rosé's consumer-centric approach to building a brand that reflects today's multicultural consumer values, according to CBS Miami.
Burston's win in securing the corporation will allow the brand to ascend to new heights.