What constellation sold Ballast Point for?

What constellation sold Ballast Point for?

Constellation made a huge splash in late 2015 with the purchase of San Diego craft beer behemoth Ballast Point Brewing. Constellation bought Ballast Point for $1 billion, adding one of the most well-respected names in craft beer to its deep portfolio. Constellation pushed Ballast Point distribution to all 50 states.

Does constellation own Ballast Point?

Ballast Point Brewing Company is an American brewery founded in 1996 by Jack White in San Diego, California. Ballast Point Brewing Co. The brewery was sold to Constellation Brands for $1 billion in 2015.

Does Corona own Ballast Point?

(Whether they could have had better foresight and knowledge is up for discussion.) In 2015, Constellation—which was better known for wine before acquiring the popular Mexican beer brands Corona and Modelo—paid $1 billion for Ballast Point.

Who owns Ballast Point beer?

Kings & Convicts Brewing Co.
California brewery Ballast Point is now officially part of Kings & Convicts Brewing Co., a Chicago-area brewing company. Kings & Convicts Brewing Co. announced in December it would purchase the makers of the popular Sculpin IPA from Constellation Brands.

How long is Ballast Point good for?

The best by date on Ballast Point beers under 10% is 120 days from bottling. The best by date on beers 10% and over is 12 months from bottling. These dates are now printed on the labels themselves and not on the bottles.

How much did kings and convicts buys Ballast Point for?

Reports valued the deal between $75 million and $200 million, including the Ballast Point brand, the Miramar facility, and five brewpubs and taprooms in California and Chicago. Left out of the agreement was Ballast Point’s Daleville, Virginia brewery, which opened three years ago.

What happened Ballast Point?

Ballast Point’s upcoming San Francisco spot joins five existing brewery taprooms in Southern California. Constellation broke ground on the northern site in 2018 but halted construction in 2019 before selling to Kings & Convicts the following year.

What states does Ballast Point distribute to?

In doing so, Kings & Convicts plans to focus on selling Ballast Point products in 12 “core” U.S. markets moving forward, Watters said. Those include California, Colorado, Florida, Illinois, Massachusetts, Nevada, New Jersey, New York, Texas, Virginia, Washington and Wisconsin.

How did Ballast Point get its name?

The Birth of the Ballast Point Name With Ballast Point as its anchor, San Diego grew into a nautical town where ships stopped to empty their cargo and take on ballast — or weight — before sailing back to the East Coast. White thought the name “Ballast Point” captured San Diego as a strong military and fishing town.

Why did Ballast Point close?

If you’re a fan of the San Diego-based brewery in the Midwest, you’ll likely be disappointed to learn that the Chicago brewpub that was supposed to close just temporarily in October because of COVID-19 will not reopen.

Who bought Ballast Point from Constellation?

All 560 employees were retained. In a major deal for the entire craft beer industry, Kings & Convicts Brewing Co. recently finalized its purchase of Ballast Point Brewing Co. (beers pictured) from Constellation Brands.

Does Ballast Point have cocktails?

You may know Ballast Point from such stellar beers as Sculpin, Victory at Sea, and Dorado. Ranging from 6.2% ABV (Gin & Tonic) to 10% ABV (Bloody Mary), the canned cocktails are perfect for beach days when you don’t feel like a beer. …

How much did Constellation Brands pay for Ballast Point?

Since acquiring Ballast Point for roughly $3,500 per barrel, Constellation has failed to grow the brand nationally, and the company has admitted to overpaying for the brand by recording nearly $200 million in impairment charges in 2019 and 2017.

What was the value of Ballast Point Brewery?

Ballast Point Was Once Valued at $1 Billion. It Just Sold for a ‘Surprisingly Low’ Amount Chicago’s Kings & Convicts purchased the brewery from Constellation Brands which paid $1 billion for it…

Where did the name Ballast Point come from?

Four years later comes equally unexpected news: Last week, Constellation announced plans to sell Ballast Point to a little-known brewery out of Chicago called Kings & Convicts. (The name stems from the founders, one with an English background and the other Australian.)

Is the Ballast Point brand a losing venture?

And sure, Ballast Point may not generate the kind of excitement it did back when Sculpin IPA was taking the world by storm, but they at least have a chance to become a sustainable national brand with the right guiding hand. That said, Constellation probably never hoped that Ballast Point would become a losing venture for them.