Constellation Manufacturers invests within the mezcal. by Bryan Cranston and Aaron Paul
Aaron Paul and Bryan Cranston attend the Big Give 2020 big game at Star Island on February 01, 2020 in Miami, Florida.
Bobby Metelus | Getty Images
Corona brewer Constellation Brands announced Thursday that it had taken a minority stake in Dos Hombres, the mezcal brand founded by Breaking Bad stars Bryan Cranston and Aaron Paul.
The financial terms of the deal were not disclosed, but these transactions can be very lucrative for celebrities starting their own alcohol brands and rely on their level of awareness. In 2017, Diageo reportedly bought Casamigos, the tequila brand founded by George Clooney and his friend Rande Gerber, for $ 1 billion. Ryan Reynolds’ Aviation Gin sold for $ 610 million last year, also to Diageo.
Cranston and Paul founded Dos Hombres two years ago. The mezcal will remain in possession even after the deal. Constellation made the investment through its venture capital arm.
“Our goal is to make strategic minority investments in high-potential brands in growing categories, and the US mezcal market continues to show great potential,” said Jennifer Evans, vice president of Constellation Ventures. “We are excited to continue investing in this category with a great team and a great brand that we believe will have a lot of growth.”
Last year, the mezcal category grew by 14%, according to data from the industry tracker IWSR. The ultra-premium segment, which Dos Hombres belongs to, is the fastest growing part of the category. A 750 milliliter bottle of Dos Hombres costs about $ 65.
Constellation’s shares were unchanged in pre-market trading. The company’s stock is up nearly 7% this year, equating to a market value of about $ 45 billion.