Beer giant buying minority share of Louisville craft spirit maker

Constellation Brands, one of the biggest spirits companies in the world, has purchased a minority stake in Louisville-based Copper & Kings American Brandy.

The purchase price was not immediately disclosed.

Copper & Kings uses small-batch copper pot-distillation to create untraditional American apple and grape brandies, absinthe, gin and Destillaré liqueurs. Products are currently available in 31 markets across the USA.

Constellation owns Corona, Modelo and Pacifico beers, Robert Mondavi, Clos du Bois, Kim Crawford, Meiomi, Mark West, Franciscan Estate, Ruffino and The Prisoner wine brands, Svedka Vodka, Casa Noble Tequila and High West Whiskey.

On Friday, Constellation reported third-quarter earnings of $1.87 a share, with sales up 3 percent to $1.86 billion.

This story was originally published January 5, 2018 at 12:46 PM with the headline "Beer giant buying minority share of Louisville craft spirit maker."