Constellation Brands Inc.
STZ,
-1.83%
said Thursday it has made its first investment in a Black or minority-owned business by buying a stake in rosé label, La Fête du Rosé. The Corona-beer brewer said the deal is the first in a plan to invest $100 million in Black or minority-owned businesses by 2030. It did not disclose the terms of the deal. La Fête du Rosé -- French for the rosé party -- was founded in 2019 by Donae Burston, a 15-year veteran of the beverage industry, and was inspired by the popularity of rosé in the French peninsula of Saint Tropez. People like to see themselves in anything, and that's what we're trying
to do with La Fête du Rosé -- create an exceptional liquid and
brand that's focused on reaching a wider audience," said Burston,
founder & CEO of La Fête du Rosé.