FORT LAUDERDALE, Fla. (August 10, 2017) – Holland & Knight represented Funky Buddha Brewery in its sale to Constellation Brands, Inc. (NYSE: STZ), a leading beverage alcohol company. The transaction closed on August 9. Funky Buddha joins Constellation’s Craft & Specialty Beer Group in the beer division.
Founded in 2010 in Boca Raton, Fla., Funky Buddha is the fastest growing craft brewery in Florida and produces bold craft beers made with high quality ingredients. It has an award-winning portfolio led by Floridian Hefeweizen and Hop Gun IPA. Its Oakland Park production brewery opened in June 2013 and distributes draught beer to over 650 retail outlets from Key West to Central Florida.
Constellation Brands is a Fortune 500 company and leading international producer and marketer of beer, wine and spirits with operations in the U.S., Mexico, New Zealand, Italy and Canada. Constellation is the number three beer company in the U.S. with high-end, iconic imported brands including Corona Extra, Corona Light, Modelo Especial, Negra Modelo and Pacifico.
“We chose to partner with Constellation because we saw an alignment in vision and felt they gave us the greatest opportunity for growth and development,” said Funky Buddha head brewer and president Ryan Sentz. “Constellation and Funky Buddha share a lot of the same ideals and passion for philanthropy, entrepreneurship and the art of craft beer. At the end of the day, we just really like the people we have met within the organization, each of whom share our dedication to making outstanding beer.”
Constellation Brands and Funky Buddha Brewery’s team of employees will continue to work together, with its original founders running the day-to-day operations. Funky Buddha’s standard of brewing will remain unchanged, delivering the same culinary-style, creative beer consumers and craft beer enthusiasts appreciate.
Holland & Knight Corporate Partner Marc Druckman and Associate Jordan Schneider led the firm’s representation of Funky Buddha. Craig Farlie, managing director of Fort Lauderdale-based investment banking firm, Farlie Turner & Co., served as the brewery’s financial advisor.