Sign In
Upcoming Event
Free Newsletter
Constellation Brands acquires minority stake in nonalcoholic tonic brand
Hiyo includes ingredients like ashwagandha, L-theanine, lion’s mane, lemon balm, passionflower and ginger, with 30 calories and 0% ABV per can. (photo courtesy of Hiyo)
Hiyo includes ingredients like ashwagandha, L-theanine, lion’s mane, lemon balm, passionflower and ginger, with 30 calories and 0% ABV per can. (photo courtesy of Hiyo)
Constellation Brands acquires minority stake in nonalcoholic tonic brand
Listen to this articleConstellation Brands has acquired a minority stake in Hiyo – an organic, nonalcoholic social tonic.
The investment was made through Constellation’s venture capital group, which aims to collaborate with people and brands driving innovation and transforming the future of the industry. Terms of the deal were not disclosed.
“Our Ventures model is centered around investing in new and adjacent categories in line with where consumers are going, which is what really excites us about Hiyo,” said John Utter, senior vice president of New Business Ventures at Constellation Brands. “Their distinctive brand and delicious liquid make it clear to see why Hiyo is one of the fastest-growing names in the functional non-alcoholic space, and we look forward to collaborating with the team to help bring their innovative products to even more consumers.”
Each can of Hiyo includes ingredients like ashwagandha, L-theanine, lion’s mane, lemon balm, passionflower and ginger, with 30 calories and 0% ABV per can. Hiyo is available in four flavors: Blackberry Lemon, Peach Mango, Strawberry Guava and Watermelon Lime.
Hiyo is currently sold in over 3,000 points of distribution across the country, including major retailers such as Whole Foods Market, Sprouts Farmers Markets and The Vitamin Shoppe.
In unrelated Constellation Brands news this week, the Rochester-based business is facing a federal securities class-action lawsuit filed from an investor who alleges the company misled investors about the growth in its Wine and Spirits division.
[email protected] / (585) 653-4021
=
