Craft Brewing and Distilling News for July 31, 2017July 31, 2017
•After a challenging first quarter, Boston Beer showed signs of recovery in its second quarter ended in June, posting a revenue rise of 1% to $247.9 million on the same period last year. Net income also rose, while shipment volume held steady at approximately 1.1 million barrels. Depletions, however, fell 3% for the 13 weeks, due primarily to soft performances by the Samuel Adams, Coney Island and Angry Orchard brands. The company’s Twisted Tea and Truly Spiked & Sparkling ranges remained bright spots during the quarter. Year-to-date, Boston Beer reported a depletions decrease of 7%, while shipment volume fell 7%, to 1.8 million barrels. The brewer projects a full-year depletions and shipments percentage change between -7% and +1%.
•Constellation’s Ballast Point Brewing is set to open a brewpub in Chicago in early 2018. The 12,000-square-foot facility will be Ballast Point’s first Midwest location and will serve the brand’s flagship beers alongside exclusive offerings brewed in the pub’s three-barrel brewery, as well as a menu featuring Southern California cuisine. Constellation acquired Ballast Point for $1 billion in late 2015. Ballast Point’s flagship Sculpin IPA earned Impact “Hot Brand” honors for 2016, rising 26% to 1.5 million (2.25-gallon) cases.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.