{"id":125148,"date":"2021-05-15T01:22:47","date_gmt":"2021-05-15T01:22:47","guid":{"rendered":"https:\/\/precoinnews.com\/?p=125148"},"modified":"2021-05-15T01:22:47","modified_gmt":"2021-05-15T01:22:47","slug":"constellation-brands-takes-stake-in-black-owned-rose-manufacturer-la-fete-du-rose","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/business\/constellation-brands-takes-stake-in-black-owned-rose-manufacturer-la-fete-du-rose\/","title":{"rendered":"Constellation Brands takes stake in Black-owned ros\u00e9 manufacturer La F\u00eate du Ros\u00e9"},"content":{"rendered":"<ul>\n<li>Constellation Brands has taken a minority stake in Black-owned ros\u00e9 company La F\u00eate du Ros\u00e9.<\/li>\n<li>The alcohol giant made the investment as part of its $100 million commitment to back Black and minority-owned enterprises within the next decade.<\/li>\n<li>&quot;In a recent 5 year period, only 1% of venture funds went to Black entrepreneurs, and we decided we were going to help fix that issue and really create some change,&quot; Constellation Brands CEO Bill Newlands said.<\/li>\n<\/ul>\n<p>In this article<\/p>\n<ul>\n<li><span>STZ<\/span><\/li>\n<\/ul>\n<p>After pledging to invest in minority enterprises, Constellation Brands made its first move, taking a stake in a Black-owned ros\u00e9 company.<\/p>\n<p>Constellation, through its venture capital arm, is now backing La F\u00eate du Ros\u00e9 as part of its push to support Black, Latinx and minority-owned firms with $100 million by 2030.<\/p>\n<p>The company&#x27;s goal is to grow the reach of ros\u00e9, which is popular among women, La F\u00eate du Ros\u00e9 founder Donae Burston told CNBC&#x27;s Jim Cramer on Friday.<\/p>\n<p>&quot;That&#x27;s been our mission since Day 1, to make ros\u00e9 far more inclusive,&quot; he said in an interview on &quot;Mad Money.&quot; &quot;We wanted to definitely change that narrative and bring more people into the fold, not only just men but also people of color.&quot;<\/p>\n<p>La F\u00eate du Ros\u00e9 \u2014 French for &quot;the ros\u00e9 party&quot; \u2014 was launched in 2019 by Donae Burston, a 15-year beverage industry veteran who developed the brand to target millennial and Generation Z consumers. The drink draws inspiration from the ros\u00e9 culture in the French peninsula of Saint Tropez.<\/p>\n<p>While the size of the investment was undisclosed, Burston said the funds will be used to expand staff and production.<\/p>\n<p>Burston appeared alongside Constellation Brands CEO Bill Newlands, who said his company was spurred into action to address the fact that women and people of color are underrepresented in the industry. Constellation Brands&#x27; portfolio of wine and spirits includes Corona and Modelo.<\/p>\n<p>&quot;In a recent 5 year period, only 1% of venture funds went to Black entrepreneurs, and we decided we were going to help fix that issue and really create some change,&quot; Newlands said. &quot;In our judgment, you can do good and do good business.&quot;<\/p>\n<p>La F\u00eate du Ros\u00e9 also donates some of its profits to programs that provide travel experiences to disadvantaged kids.<\/p>\n<p>&quot;Travel was the thing that changed my life post-graduate, so we wanted to give those same opportunities back to underserved youth and underprivileged kids,&quot; Burston said.<\/p>\n<p>Questions for Cramer?<br \/> Call Cramer: 1-800-743-CNBC<\/p>\n<p>Want to take a deep dive into Cramer&#x27;s world? Hit him up!<br \/> Mad Money Twitter &#8211; Jim Cramer Twitter &#8211; Facebook &#8211; Instagram<\/p>\n<p>Questions, comments, suggestions for the &quot;Mad Money&quot; website? madcap@cnbc.com<\/p>\n<p>Source: <a href=\"https:\/\/www.cnbc.com\/2021\/05\/14\/constellation-brands-takes-stake-in-black-owned-ros-manufacturer-la-fte-du-ros.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Constellation Brands has taken a minority stake<\/p>\n","protected":false},"author":3,"featured_media":125147,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23051],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Constellation Brands takes stake in Black-owned ros\u00e9 manufacturer La F\u00eate du Ros\u00e9 - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/business\/constellation-brands-takes-stake-in-black-owned-rose-manufacturer-la-fete-du-rose\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Constellation Brands takes stake in Black-owned ros\u00e9 manufacturer La F\u00eate du Ros\u00e9 - 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