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Constellation acquires minority stake in La Fête du Rosé
Constellation Brands has acquired a minority stake in Donae Burston’s La Fête du Rosé brand for an undisclosed sum as part of its US$100m diversity drive.
The investment, made through Constellation’s venture capital group, is the first of the firm’s Focus on Minority Founders initiative, which plans to invest $100 million in Black, Latinx and minority-owned businesses by 2030.
“We’re thrilled to jumpstart our Focus on Minority Founders initiative with an investment in a fantastic consumer-oriented brand and with a dynamic industry leader behind it in Donae Burston,” said Constellation’s CEO, Bill Newlands.
“Minority-owned businesses are under-represented in our industry, and there is a need to make it more equitable for those businesses to receive access to capital. This initiative enables us to play a role in creating greater equity within our industry and provides an opportunity for us to work with bold leaders and brands with unique value propositions that align with our premiumisation strategy.
“La Fête du Rosé is certainly that, as Donae has taken a consumer-first approach to building a distinctive rosé brand that reflects today’s multicultural consumer values,” he added.
Founded in 2019 by drinks industry veteran Burston, La Fête du Rosé was inspired by the popularity of Provence rosé and created with the intention of being fresh, modern, and inclusive brand geared towards rosé drinkers of all backgrounds.
“People like to see themselves in anything, and that’s what we’re trying to do with La Fête du Rosé – create an exceptional liquid and brand that’s focused on reaching a wider audience,” Burston said.
“It has taken a lot of hard work to get the brand to where it is today. Constellation Brands is the right partner to allow us to scale the brand in a way that stays true to its ethos,” he added.
Meaning ‘the rosé party’ in French, La Fête du Rosé is produced in conjunction with Domaine Bertaud Belieu, the oldest vineyard on the Saint Tropez peninsula, established in 1340.
The brand donates a portion of its proceeds to firms focused on advancing racial justice and creating opportunities for people of colour in the wine and spirits industry.
“Donae and the La Fête du Rosé team have created a unique and distinctive lifestyle brand, and we’re excited to collaborate with them and share insights to fuel our collective growth,” said Jennifer Evans, vice president of Constellation Ventures.
“We look forward to making future investments behind our Focus on Minority Founders initiative and working with brands and companies that align with our strategy of investing in emerging, higher-end brands that have a point of differentiation in the marketplace,” she added.
The initiative is inspired by the success of Constellation’s Focus on Female Founders programme, which is committed to investing US$100 million in female-owned and founded companies.
Since its launch in 2018, Constellation’s Ventures portfolio mix has shifted from 20% female-owned to more than 50% female-owned.
Among the beer, wine and spirits brands within the Constellation portfolio are: Corona, Robert Mondavi, Meiomi, Kim Crawford, Svedka Vodka and Casa Noble Tequila.