VICTOR, NY. — Constellation Brands, Inc., global producer and marketer of beer, wine and spirits, through its venture capital group has acquired a minority stake in zero-proof sparkling beverage brand TÖST. Financial terms of the transaction were not disclosed.
Developed by a team of beverage and culinary experts, its namesake products TÖST and TÖST ROSÉ are produced with no alcoholic fermentation and feature notes of sparkling white tea and ginger, with cranberry and elderberry, respectively. Described as “refreshingly dry and not too sweet,” the products are sold online at tostbeverages.com and in major retailers, grocers, restaurants, specialty stores and liquor stores across the country.
“We are excited and humbled to have Constellation Brands as a partner in our mission to bring TÖST beverages to even more consumers,” said Brooks Addington, chief executive officer of TÖST. “We believe our mutual consumer-centric focus and desire to deliver premium product experiences positions TÖST for exponential growth in the coming years.”
Constellation Brands, which has operations in the United States, Mexico, New Zealand and Italy, owns brands including Corona, The Prisoner Wine Co., Robert Mondavi Winery, Casa Noble Tequila, High West Whiskey, Kim Crawford and Meiomi. The addition of TÖST expands the company’s offerings to more consumers and occasions, tapping into the growing sometimes-sober movement.“TÖST is a delicious liquid that feels celebratory and elevated for life’s big moments, and also versatile and approachable for everyday enjoyment,” said Mallika Monteiro, executive vice president and chief growth, strategy, and digital officer at Constellation Brands. “Our investment in TÖST allows us to continue to optimize our higher-end portfolio by providing an alcohol-free beverage with a complex flavor profile for consumers that complements their lifestyle across a variety of occasions.”
Enjoying this content? Learn about more disruptive startups on the Food Entrepreneur page.