USA: Constellation Brands acquires Texas craft brewer Four Corners Brewing
Constellation Brands will expand its reach in the craft beer segment with the acquisition of Texas’ Four Corners Brewing, the New York-based beverage alcohol company announced on July 10.
Financial terms of the transaction were not disclosed.
Four Corners will join California’s Ballast Point Brewing and Florida’s Funky Buddha Brewery in Constellation’s growing craft and specialty beer group.
“Four Corners brings a culture that mixes adventure and innovation with elements of heritage and tradition,” Bill Newlands, Constellation Brands president, and COO said via a press release. “It’s a compelling opportunity for Constellation because Four Corners’ bicultural inspired flavors and branding capitalize on one of the hottest trends in beer – Hispanic influenced products.”
Founded in 2012 by George Esquivel, Greg Leftwich, and Steve Porcari, the Dallas-based craft brewery produces six year-round offerings that feature lotería-style branding.
“George, Greg, and Steve have created beers that are big on flavor, refreshing and pair well with bold Texas cuisine, while creating a brand that embraces and reflects the diversity of its people,” Newlands said. “We’re excited to help them take the brand further.”
According to a press release, sales of Four Corners beers have increased “five-fold” since 2014, and the company has the capacity to produce 25,000 barrels annually. Industry trade group the Brewers Association, which represents the interests of small and independent craft breweries, estimates that Four Corners produced 11, 560 barrels in 2017.
“We like to say that Four Corners Brewing is our collective beer journey, and partnering with Constellation continues that journey by opening amazing possibilities of where our brand and company can go,” Four Corners’ Esquivel said via the release. “We’re proud Texas brewers, and we’ve always had intent of sharing our brews and our story with as many people as possible. We know Constellation Brands is the right partner to help us do that.”
In February, Four Corners expanded distribution outside of Dallas via 2-Row Distributing, a division of Del Papa Distributing, which also distributes Constellation Brands’ products. The craft brewery also has distribution agreements with Houston’s Silver Eagle Distributing, and Dallas’ Andrews Distributing, which both sell Constellation Brands’ offerings.
Constellation’s purchase comes one month after Fireman Capital-backed Canarchy Craft Brewery Collective purchased Dallas’ Deep Ellum Brewing Company.
Anheuser-Busch InBev and MillerCoors also own Texas-based Karbach Brewing and Revolver Brewing, respectively.
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