LOUISVILLE, Ky. (WDRB) -- Copper & Kings American Brandy Company sold a minority stake in its Butchertown operation to Constellation Brands.
Constellation is already a major player in the beer, wine and spirits industry with a family of brands that includes High West, Casa Noble, Robert Mondavi, Corona, Modelo, SVEDKA Vodka and Casa Noble Tequila
In a release, Copper & Kings Founder and CEO Joe Heron said, "In all honesty there could not be a better fit between a small craft distiller and a leader in the beverage alcohol industry like Constellation Brands."
Heron adds, "We've done a lot of hard yards to get to where we are, and we are proud of that, but we now feel the need for some assistance with the heavy lifting required to build a legacy market leader brand and investigate global expansion."
A statement from Constellation Brands' Executive Vice President and Chief Operating Officer Bill Newlands said, Copper & Kings is scalable not only in equity, but also the inventory of aged and aging spirits on hand. We see our role as adding fuel to their fire. And we think it's going to burn very bright."
Copyright 2018 WDRB Media. All Rights Reserved.