Constellation to invest $100M in female-led alcohol businesses – Rochester Democrat and Chronicle

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Constellation Brands Headquarters in Victor.(Photo: CARLOS ORTIZ/ROCHESTER DEMOCRAT AND CHRONICLE)Buy Photo

Story Highlights Constellation will invest $100 million in female-founded and female-owned alcohol enterprises by 2028. The first two investment recipients were Austin Cocktails and Vivify Beverages.

Constellation Brands’ venture capital group is putting its weight behind female-founded and female-owned alcohol businesses by investing $100 million by 2028, the company announced Thursday.

The investment would come through the Victor-based company’s Focus on Female Founders program, which supports emerging brands in, or adjacent to, the beverage alcohol space.

Constellation’s first two investments went to Austin Cocktails, an Austin, Texas-based bottled cocktail company owned by two sisters, and Vivify Beverages, which sells premium alcoholic beverages that serve as “better for you” alternatives to common alcohol products, according to a Constellation news release.

Women-led businesses in the U.S. have increased by 58 percent since 2007, and total revenue from these businesses shot up by 46 percent in the same period, according to a 2018 American Express report on the state of women-owned enterprises.  

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But women are underrepresented in the alcohol industry, said Constellation President and Chief Operating Officer Bill Newlands, who will take over as CEO next year.

“We believe the focus and point of view that women-led businesses bring to the table will help drive transformative innovation and accelerated growth for our business and, more importantly,

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