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Constellation Brands Acquires Ballast Point Brewing Company for $1 Billion

by Alexander Frane on Nov 17, 2015 in Beer

Ballast Point, having just recently made plans to go public, has finalized a deal with Constellation Brands, a beverage conglomerate, to the price of one billion dollars. The deal seems staggering (Constellation’s largest transaction since 2012), and even Ballast’s chief commercial officer, Earl Kight admitted his surprise to the LA Times. Still, Ballast’s revenue is projected to more than double in 2015, rising to $100 million. Constellation seems to share the prediction of many other larger companies—craft brews are the new market.
 
The purchases of craft breweries by larger drink companies, such as AB-InBev’s many reported purchases, are indicative of the growing popularity of craft beers; sales of craft beers continue to grow, while larger companies’ sales have remained flat for the last few years. Despite the fears of some, it seems unlikely that the craft scene will be threatened by these acquisitions—every time a brewery like Elysian or Goose Island is purchased, hundreds of other breweries remain, and more spring up.
 
Furthermore, Ballast will reportedly remain mostly autonomous, operating as a standalone business. Of course, this does not necessarily mean the product will remain consistent: with increased production and distribution, there is always the chance of adjustment. Time will tell whether its beer will remain the same or not.
 
Constellation will be adding Ballast’s products to its already large roster of 100 some brands, which include Mexican beers Corona, Pacifico, and Negra Modelo, as well as Robert Mondavi wines and Black Velvet Canadian Whiskey.

Photo via Ballast Point

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