VICTOR, N.Y., June 29, 2020 – Constellation Brands, Inc. (NYSE: STZ and STZ.B), a leading beverage alcohol company, announced today its commitment to a multi-initiative social justice action plan aimed to achieve greater equity for African American/Black colleagues at Constellation, within the beverage alcohol industry, and within the communities they operate in.
“The conditions that have allowed systemic racism to persist in the U.S. have existed far too long,” said Bill Newlands, president and chief executive officer at Constellation Brands. “We categorically denounce bigotry, racism, and social injustice. They are clearly inconsistent with our company values and our commitment to embracing diversity and creating an inclusive environment where all employees feel safe, respected, and valued. We stand in solidarity with the Black community and we are committed to achieving meaningful and lasting change.”
Constellation Brands Ventures (CBV), the company’s corporate venture capital group, will invest $100 million in African American/Black and minority-owned businesses in the beverage alcohol space and adjacent categories by 2030 through a new program, Focus on Minority Founders. Data has shown that the venture capital ecosystem is starkly homogeneous. In a study of U.S. venture activity from 2013 through 2017, just 1% of VC-backed entrepreneurs were Black (1) […]
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