Constellation Brands Invests in Uniquely Californian Sparkling Wine Sapere Aude Through Focus on Minority Founders
VICTOR, N.Y., June 10, 2021 – Through Constellation Brands Ventures’ Focus on Minority Founders initiative and commitment to invest $100 million in African American/Black, Latinx, and minority-owned businesses by 2030, Constellation announced today that it has acquired a minority stake in Sapere Aude Sparkling Wine.
“We’re excited to continue our Focus on Minority Founders initiative with an investment in a really unique brand in Sapere Aude,” said Jennifer Evans, vice president, Constellation Ventures. “What Pampata and Dave have started to build is a great representation of what we’re trying to achieve with our ventures portfolio and initiatives, which is to work with innovative leaders building brands that are on the forefront of emerging consumer trends and have a true point of differentiation in the marketplace.”
Sapere Aude, which is Latin for “dare to know,” was founded in 2012 by wife and husband Pampata and David Airaudi. The duo has taken an entrepreneurial approach to building a uniquely Californian sparkling wine that has no residual sugars, low alcohol, fine bubbles, and a refreshing brand identity that seeks to evolve and refine a new definition of elegance for the next generation of legal drinking age wine consumers.
“Our products are meant to be simple, clean, and honest,” said Pampata Airaudi. “As we’ve built this business, it’s incredibly important to us to remain authentic to who we are, where we come from, and build a brand that resonates with our drinkers’ values. Constellation Brands is the perfect partner to help us grow in that way. They put the consumer first in everything they do and are focused on what consumers are looking for next, not what’s worked in the past. We know we can leverage their investment and expertise to help us keep the momentum going.”
Added David, who’s also the founder and CEO of the successful record label and management firm 3qtr; “This started out as a side project for us, but has quickly grown into our passion. As we began looking into the category, and with sparkling in particular, there were few brands that really spoke to us as artists. So we set out to build a brand not to conform to today’s wine market, but one built for those shaping its future and to make something we can identify with and call our own.”
Terms of the transaction were not disclosed.
To learn more about Constellation’s Focus on Minority Founders program or apply, visit cbrands.com/story/ventures. The program will support the growth and development of Black and minority-owned businesses by providing funding and access to sales, marketing, operations, and finance expertise through the Constellation Brands Ventures team and Constellation’s many subject matter experts.
The evaluation process aligns with Constellation’s ventures strategy of investing in emerging, unique, and distinctive brands. Constellation Brands Ventures continues to look for brands that have a point of differentiation in the market; companies that want to welcome Constellation Ventures as an active minority investor; organizations looking to grow beyond their current markets; and entrepreneurs who want to grow their business with the support of Constellation’s investment, mentorship, and involvement.
ABOUT CONSTELLATION BRANDS
At Constellation Brands (NYSE: STZ and STZ.B), our mission is to build brands that people love because we believe sharing a toast, unwinding after a day, celebrating milestones, and helping people connect, are Worth Reaching For. It’s worth our dedication, hard work, and the bold calculated risks we take to deliver more for our consumers, trade partners, shareholders, and communities in which we live and work. It’s what has made us one of the fastest-growing large CPG companies in the U.S. at retail, and it drives our pursuit to deliver what’s next.
Today, we are a leading international producer and marketer of beer, wine, and spirits with operations in the U.S., Mexico, New Zealand, and Italy. Every day, people reach for our high-end, iconic imported beer brands such as Corona Extra, Corona Light, Corona Premier, Modelo Especial, Modelo Negra, and Pacifico, and our high-quality premium wine and spirits brands, including the Robert Mondavi brand family, Kim Crawford, Meiomi, The Prisoner brand family, SVEDKA Vodka, Casa Noble Tequila, and High West Whiskey.
But we won’t stop here. Our visionary leadership team and passionate employees from barrel room to boardroom are reaching for the next level, to explore the boundaries of the beverage alcohol industry and beyond. Join us in discovering what’s Worth Reaching For.
To learn more, follow us on Twitter @cbrands and visit www.cbrands.com.
SOURCE: Constellation Brands