Wednesday, January 10, 2018
Constellation Brands Announces Minority Acquisition of Real McCoy Rum
Constellation Brands has acquired minority stake in The Real McCoy rum firm for undisclosed sum. As part of its minority acquisition of The Real McCoy, Constellation Brands will also handle the distribution of the Bourbon barrel-aged rum throughout the US, as well as assisting with marketing and operations.
Richard Seale, The Real McCoy master distiller, said: "With Constellation's investment and strategic counsel, we look forward to fully achieving our vision of expanding The Real McCoy's reach throughout the United States." All senior executive positions will remain the same at The Real McCoy, with Jennifer Pryor as CMO, John Esposito as COO, and Walter Brunner as CFO. Vice presidents Mac Jones, Abbi Miller and Linda Lofstrom will also keep their positions, with more emphasis on key account management and expansion into new states.
Newlands commented on The Real McCoy minority acquisition: "The spirits category represents a significant growth opportunity for Constellation, and continued investments in artisan brands like The Real McCoy are part of our overall total beverage alcohol strategy." The news comes on the same day Constellation Brands announced its Q3 financial results for 2017/18, which highlighted "excellent" double-digit sales.