Constellation acquires minority stake in Mezcal El Silencio parent
Constellation Brands announced it acquired a minority stake in the parent company of Mezcal El Silencio, a Los Angeles-based mezcal label. The investment was made through Constellation's venture capital group. "The collaboration allows El Silencio to invest in infrastructure and growth, while continuing to produce, market and sell its handcrafted artisanal mezcal products Ensamble and Espadin, as well as grow and maintain its own unique brand, creative and operations teams," Constellation said in a statement posted on its website. It added, "The mezcal market in the U.S. has grown exponentially in the last few years and is expected to continue to grow in demand year over year. According to the IWSR, a source of data and insights on total beverage alcohol trends, from 2017 to 2018 the mezcal category grew by 32.4%, representing the largest percentage gain across all spirits categories." Terms of the transaction were not disclosed.