CoreBev Group, a Stamford-based alcohol beverage group, has acquired Continuum Distilling, a Waterbury-based company known for taking beer and turning it into whiskey and gin.
The financial terms of the transaction were not disclosed. CoreBev Group founder and CEO Stelios Stavrianos told the Westfair Business Journal that his company raised more than $1 million in Series A funding ahead of the transaction, which is an all-cash deal.
“We will be keeping on many, if not all of the existing Continuum Distilling products,” said Stavrianos. “In the deal we’re keeping Master Distiller Brandon Collins on the team and growing the distillery’s footprint. We are renovating the space, including expanding the tasting room, and have purchased new equipment to help build up our co-packing business. We are doing a full rebrand of the distillery in the coming months.”
Stavrianos added the acquisition was “part of a much larger strategy in establishing a base for our brands and giving us the room we need to expand, both in footprint across the U.S., as well as enabling us to expand our product portfolio with additional products and innovation.”
