VICTOR, N.Y. (AP) — Constellation is buying Casa Noble tequila as it looks to tap growing demand for the Mexican drink.
Stars like Justin Timberlake, P Diddy, Carlos Santana, Sammy Hagar and George Clooney have all launched their own brands and tequila sales are rising.
Financial terms of the Casa Noble acquisition were not disclosed Wednesday.
Casa Noble's tequilas include Casa Noble Crystal, Reposado and Añejo. There is also limited production of several other higher-end Casa Noble tequilas.
Constellation, a wine, beer and liquor company based in Victor, New York, also owns Corona and Negra Modelo beers, as well as and Robert Mondavi wine.
The deal is expected to close next month.
Shares of Constellation Brands Inc. rose slightly before the opening bell.
With stars like Justin Timberlake, P Diddy and George Clooney all launching their own brands, tequila sales are rising. Constellation Brands is closing a deal next month to buy Casa Noble tequila. Casa Noble tequilas include Casa Noble Crystal, Reposado and Añejo.