Constellation Brands Inc. announced on Thursday that it has taken a minority stake in Dos Hombres, the mezcal brand created by “Breaking Bad” stars Bryan Cranston and Aaron Paul.
Constellation
STZ,
-0.64%
made the investment through its venture capital group. Dos Hombres will continue to be owned and operated independently.
Terms of the agreement were not disclosed.
See: Constellation Brands buys stake in minority-owned wine La Fête du Rosé
“Our goal is to make strategic, minority investments in high potential brands in growing categories, and the U.S. mezcal market continues to show great potential,” said Jennifer Evans, vice president, Constellation Ventures, in a statement, adding that the group is “excited to further invest in the category.”
Constellation quotes data showing a 14% jump in the U.S. mezcal category in 2020, with sales of bottles priced $30 and up expected to be the fastest-growing segment.
Dos Hombres launched in 2019 and is made in Oaxaca using Espadín agave and mountain spring water.
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Cranston and Paul join a long list of celebrities who have gotten into the tequila and mezcal business including Dwayne “The Rock” Johnson with his Teremana brand; Nick Jonas and fashion designer John Varvatos with Villa One Tequila; Justin Timberlake with Sauza 901 tequila; and Kendall Jenner with the controversial 818 Tequila.
In 2017, Diageo PLC bought the Casamigos tequila brand created by George Clooney , Rande Gerber and Mike Meldman in a deal that valued the brand at $1 billion.
Constellation Brands stock is up 6.8% for the year to date while the S&P 500 index
SPX,
-0.04%
has gained 12.5% for the period.
