Copper & Kings gets backing from FMCG investor
Copper & Kings gets backing from FMCG investor.
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Copper & Kings American Brandy Company has secured investment from US private-equity firm Neace Ventures.
The investment size and other financial terms were not revealed.
In a statement yesterday (15 July), the Louisville-based distiller said the funds will "accelerate the brand's momentum".
According to the company, the investment will support its distributor network and boost its presence in "high-priority" markets.
Like Copper & Kings, Neace Ventures is also headquartered in Louisville, Kentucky.
The brandy producer called the investor's backing the "next step in its growth story" under Bourdon Spirits Company, which acquired the business from US alcohol giant Constellation Brands in August.
Constellation initially took a minority stake in Copper & Kings in 2018.
Two years later, it bought the company outright through its incubator division, Constellation Ventures.
Since coming under new leadership, Copper & Kings said it has narrowed its distribution footprint from 42 states to six. Indiana was identified as the company's newest priority market, where it entered in June.
The company said it working to "sharpen" its brand focus and create a base for long-term growth instead of pursuing "short-term shelf presence".
Its wholesale sales climbed 30% in the first half, Copper & Kings added.
Rob Bourdon, the founder and CEO of Bourdon Spirits Company, said: "Since acquiring Copper & Kings last year, we've relaunched the core portfolio, restructured around consumer-friendly price points, tightened our distribution, grown wholesale 30 percent, and started showing up in the community in a real way.
"This investment lets us go faster without compromising how we do it."
Beyond brandy, Copper & Kings also makes absinthe, gin and liqueurs.
John Neace, the founder of Neace Ventures, described Copper & Kings as "one of the most authentic stories in American spirits", adding: "That's the kind of brand we invest in, and Rob is the kind of founder we bet on."
"Copper & Kings gets backing from FMCG investor" was originally created and published by Just Drinks , a GlobalData owned brand.
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