Constellation Brands has agreed to buy Utah-based High West Distillery. Wall Street Journal reported that the acquisition price was $160m.

The acquisition includes all of High West's operations and its portfolio of American straight whiskeys.

With the purchase of High West, which has experienced double-digit volume growth year on year for the past three years, Constellation Brands enters the craft whiskey segment.

"High West's whiskeys are high-end, distinctive and delicious, perfect for today's knowledgeable consumer."

This deal is slated to close by the end of October.

David Perkins and his wife, Jane, founded High West Distillery in 2004.

Under the transaction agreement, High West's employees will join the Constellation Brands family.

Constellation Brands president for wine and spirits division Bill Newlands said: "High West's whiskeys are high-end, distinctive and delicious, perfect for today's knowledgeable consumer who enjoys artfully crafted whiskeys.

"With the addition of High West, Constellation Brands bolsters its position in the dynamic and growing craft spirits category. We look forward to welcoming this creative and talented team to Constellation Brands as we work together to drive growth for High West and build our premium spirits portfolio with brands that consumers love."

High West CEO John Esposito said: "Our award-winning whiskeys are artfully blended to create unique and complex flavours inspired by the Old West.

"We craft innovative whiskey blends that reflect our sense of adventure and pioneering spirit. When it came to the next step for High West, we wanted to work with the right partner that will help us grow further while maintaining our culture and core values.

"With the strength of the Constellation Brands team, we will be able to reach more consumers and continue our track record of innovation."   

High West sells approximately 70,000 cases annually.

Its portfolio comprises four core products; American Prairie Bourbon, Double Rye!, Rendezvous Rye, and Campfire.