Constellation Brands has added High West Distillery to its portfolio.
The company announced today the purchase of the Utah-based distillery. Reports put the acquisition cost at approximately $150 million.
This expands the reach of Constellation Brands into the growing markets for bourbon, rye, and premium whiskeys, allowing the company to compete there with other drinks giants.
The acquisition includes all of High West’s operations and its portfolio. The transaction is expected to close by the end of October.
“High West’s whiskeys are high-end, distinctive and delicious – perfect for today’s knowledgeable consumer who enjoys artfully crafted whiskeys,” says Bill Newlands, president, wine and spirits division, Constellation Brands, in a press releease. “We look forward to welcoming this creative and talented team to Constellation Brands as we work together to drive growth for High West and build our premium spirits portfolio with brands that consumers love.”
High West has experienced double-digit volume growth year over year for the past three years, the company reports. The High West portfolio sells approximately 70,000 cases annually. The portfolio includes four core High West Whiskey products: American Prairie Bourbon, Double Rye!, Rendezvous Rye and Campfire, blends of Scotch, bourbon and rye whiskeys. In addition, High West Distillery produces several limited edition whiskeys.
Constellation Brands enters the dynamic and profitable high-end craft whiskey segment.