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Constellation completes Casa Noble acquisition
Constellations brands has completed the acquisition of Mexican musician Carlos Santana’s Casa Noble Tequila, marking the group’s first foray into the category.
Constellation Brands has completed the acquisition of Carlos Santana’s Casa Noble Tequila
It was revealed in August this year that US-based Constellation Brands, owner of Svedka Vodka, had made a bid to acquire Casa Noble, which it claims is growing at “consistent, double-digit growth”.
This acquisition, of which the terms have not been specified, gives Constellation a foothold in the rising super-premium Tequila category, which grew by 10% in the US last year.
While the brand, which is available in four varieties, has been produced since the 18th Century, famed Mexican musician Carlos Santana purchased a stake in 2011.
“I’m excited for the opportunity to integrate Casa Noble Tequila into our existing portfolio. As the first super-premium spirits brand we’ll add to our portfolio, Casa Noble is a natural fit,” said Rob Sands, CEO of Constellation Brands
“It complements our successful Mexican beer brands and we intend to leverage our existing strong routes-to-market, as well as our marketing expertise and deep knowledge of the Hispanic consumer.”
It was revealed in July this year that Constellations Brands’ stagnant spirits sales were offset by its solid beer sales after gaining US Corona distributions rights in 2013.