Constellation To Acquire Booming Ballast Point For $1 BillionNovember 16, 2015
Constellation Brands has agreed to acquire fast-growing craft brewer Ballast Point for approximately $1 billion. The San Diego-based Ballast Point has been expanded rapidly in recent years, claiming annual growth of more than 80% since 2012. This year, Ballast Point is on pace to sell nearly 2 million (2.25-gallon) cases of beer—an increase of more than 100% over 2014. Net sales for calendar 2015 are projected at around $115 million. Ballast Point’s portfolio includes more than 40 different styles of beer, led by its Sculpin IPA and Grapefruit Sculpin IPA offerings. Constellation’s beer range is headed by the Corona franchise and fellow Mexican brand Modelo Especial.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.