Constellation Brands has added to it has the craft beer portfolio with all the acquisition of Dallas-based Four Corners Brewing.
The Texas brand will become a member of California’s Ballast Point Brewing and Florida’s Cool Buddha Brewery within Constellation’s craft and special beer group.
Founded in 2012 through friends George Esquivel, Greg Leftwich and Gary Porcari, Four Corners set out to develop a Dallas brewery that would revitalise the city’s neighbourhoods.
Constellation said the brewery delivers “an entire portfolio of unique, delicious and sessionable beers” with primary brands including Local Hype Honey-Rye Golden Ale and El Chingn IPA.
Sales have increased fivefold since 2014, and the brewery expanded capacity from 8,000 boxes into 25,000 kegs in 2017.
Upon completion of the financial transaction, the existing management team made from Esquivel, Leftwich and Porcari, along with their current personnel, will continue brewing the same cans of beer.
Co-founder George Esquivel said: “We like to say that Four Corners Brewing is our collective beer quest, and partnering with Constellation carries on that journey by beginning amazing possibilities of where your brand and company can go.
“We’re happy Texas brewers, and we have always had intent for sharing our brews and also our story with plenty of people as possible. We know Constellation Brands is the right partner to help you us do that.”
Constellation Brands lauded Four Corners’ portfolio of “authentic, yummy and sessionable beers”.
Constellation Brands COO Invoice Newlands added: “Four Corners brings a new culture that mixes excitement and innovation with parts of heritage and tradition.
“It’s an engaging opportunity for Constellation because Four Corners’ bicultural encouraged flavors and branding develop on one of the hottest fads in beer C Hispanic influenced products.
“George, Greg and Steve have created soft drinks that are big on quality, refreshing and pair good with bold Texas cuisine, while creating a brand that embraces and reflects the diversity of its people. We’re enthusiastic to help them take the brand even further.”
Constellation Brands, which is the US representative of Corona and Modelo beer, noticed its first-quarter net sales increase 6% last month to $2.05 billion.
In its beer portfolio, volume amplified by 8.6% and goal sales increased by 11%. The particular Modelo and Corona brand families owned strong portfolio performance along with market share gains with depletion growth of approximately 9%.
The beer company continues to target high-single digit quantity growth and 9-11% net sales and operating income expansion for fiscal 2019.