It’s time for Constellation Brands to toast the completion of its latest acquisition, one made with the future of alcohol consumption in mind.
The maker of Corona beer and Robert Mondavi wine said Wednesday it will purchase direct-to-consumer wine brand Empathy Wines. Terms of the transaction weren’t disclosed. Empathy Wines was founded in 2019 by well-known entrepreneur, wine expert and media personality Gary Vaynerchuk. The deal comes on the heels of Constellation Brands (STZ) selling its lower priced wine portfolio to E.J. Gallo for $1.1 billion. It will instead focus its efforts on higher-end wines such as Robert Mondavi and now, Empathy Wines.
The Empathy brand hawks $20 bottles, sustainably raised wine delivered directly to subscribers. Vaynerchuk — who has extensive marketing experience and is the CEO of VaynerMedia – has used his 10 million plus follower presence on Twitter and Instagram to help drive interest and sales for Empathy