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Black-Owned Wine Brand La Fête du Rosé Secures Investment From Alcohol Giant

Last June, alcohol giant Constellation Brands, Inc. committed to a $100 million investment in Black, Latinx and minority-owned businesses in the spirits industry over the next decade. Now they’re making good on their promise by working with Black-owned wine brand, La Fête du Rosé. According to ESSENCE, the Miami-based rosé label has become one of the many go-to wines for consumers, and with the help of Constellation Brands’ investment the brand will grow to be even bigger. Constellation Brands, Inc. announced that the company would acquire a minority stake in the wine label, making this its first attempt to make good on its June 2020 pledge. “Minority-owned businesses are under-represented in our industry and there is a real need to make it more equitable for those businesses to receive access to capital,” Constellation Brands president and CEO Bill Newlands said in a statement. “This initiative enables us to play a role in creating greater equity within our industry and provides an...

Njera Perkins

May 19, 2021