Constellation Brands has paid an undisclosed sum to strengthen its relationship with the Hopwtr brand to the point of taking full ownership.
Five years on from purchasing a minority holding in the hop-sourced, alcohol-free flavoured sparkling water brand through its Constellation Ventures unit, the group said today (27 March) that it has bought the US business outright from co-founders Jordon Bass and Nick Taranto. Having continued as Hopwtr CEO following Constellation’s entry, Bass will transition across to the multi-category group and “will continue to play an important role in shaping the brand’s future”.
“Since our initial venture investment in Hopwtr in 2021, we’ve worked closely with the team to help shape the brand’s long-term strategic direction,” said the president of Constellation’s beer division, Jim Sabia. “With the non-alcoholic segment becoming one of the fastest growing areas of total beverage alcohol, Hopwtr is a natural addition to our no- & low-alcohol portfolio.”
In early January, Constellation extended its Modelo beer franchise in the US with the launch of the brand’s first non-alcoholic offering, Modelo Chelada Limón y Sal Non-Alcoholic.
