who distributes ballast point

Who makes Ballast Point beer?

In a press release, Constellation — the country’s third-largest beer company and owner of popular Mexican import beer labels Corona, Modelo, and Pacifico — said the Illinois-based Kings & Convicts Brewing would purchase the Ballast Point brands, along with its breweries and brewpubs throughout the country.

What happened to craft beer trends after Ballast Point acquisition?

“Trends in the U.S. craft beer segment have shifted dramatically since our acquisition of Ballast Point,” Constellation Brands president and CEO Bill Newlands said via the release.

Why did Constellation Brands fail to grow 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.

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What company owns Ballast Point?

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.

Does Anheuser-Busch own Ballast Point?

Ballast Point was also the first microdistillery in San Diego since Prohibition. The brewery was sold to Constellation Brands for $1 billion in 2015. Its distillery business was spun off to a new company, Cutwater Spirits, in 2017 and subsequently purchased by Anheuser-Busch in 2019.

Who bought out Ballast Point brewery?

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.

Where is Ballast Point based out of?

From bringing a hoppy twist to a porter or adding four types of malt to its amber ale, to creating the breakthrough gold-medal winning Sculpin IPA, Ballast Point is known for adding its touch and asking if there's a better way. We're proud of our San Diego hometown, our employees, our beers, and our fans.

What Breweries does kings and convicts own?

Co-founded in 2017 by Englishman, COO and head brewer, Chris Bradley, and Aussie and CEO, Brendan Watters, Kings & Convicts currently brews ales and lagers out of its 5,000 square-foot Highwood brewery and taproom in the North Shore of Chicago, which are available on draft and in cans at the taproom and in bars and ...

Does Constellation Brands own Ballast Point?

VICTOR, N.Y., March 02, 2020 (GLOBE NEWSWIRE) -- Constellation Brands, Inc. (NYSE: STZ and STZ. B), a leading beverage alcohol company, today announced that it has completed the sale of Ballast Point to Kings & Convicts Brewing Co.

How much did St Archer sell for?

It was called Saint Archer brewing company of San Diego. It was sold to Miller-Coors they estimate, and they did really good calculation. They estimated you sold for more than $35 million.

Who bought out Saint Archer?

Kings and Convicts BrewingSAN DIEGO -- Seven years after purchasing San Diego's Saint Archer Brewery, Molson Coors has discontinued the brand and sold the brewery and local taprooms to Illinois-based Kings and Convicts Brewing.

Who bought St Archer?

Molson Coors has walked away from San Diego's Saint Archer Brewery after seven years — pulling the brand from store shelves and selling the brewery and local taprooms to Kings & Convicts, the owner of Ballast Point. Terms were not disclosed.

How much did Stone brewery sell for?

around $168 millionannounced that Sapporo USA is set to acquire California-based Stone Brewing Co. for around $168 million. Stone will leave its mantle as the ninth-largest independent craft brewery in the U.S. with the deal, which is set to close in August.

What fish is on Ballast Point?

Ballast Point Pier is a ocean near Palm River-Clair Mel. The most popular species caught here are Common snook, Spotted seatrout, and Bonnethead shark.

Who is Stone Brewing owned by?

Sapporo's20, 2021. Stone Brewing, San Diego County's largest brewing company, has been acquired by Japanese beer giant Sapporo's United States branch, it was announced Friday. The deal is valued at around $165 million with potential for additional payments based on business performance and is expected to close in August.

How much did Stone sell for?

around $168 millionannounced that Sapporo USA is set to acquire California-based Stone Brewing Co. for around $168 million. Stone will leave its mantle as the ninth-largest independent craft brewery in the U.S. with the deal, which is set to close in August.

How much did Ballast Point sell 2019?

Constellation Brands sold Ballast Point for USD 41.1 million. The figure was disclosed in its latest government filing.

How much did Cutwater spirits sell for?

$1 billionThe parties didn't disclose terms of the deal but Cutwater founder Yuseff Cherney has said he and his management team will stay on. His former boss at Ballast Point, Jack White, sold the brewery for a whopping reported $1 billion. The brand performed staggeringly well for a few quarters but has since stagnated.

What company owns Cutwater?

Anheuser-BuschBorn as a side project in a brewery, Cutwater later broke off on its own and was later bought by Anheuser-Busch to capitalize on nationwide distribution and marketing. Its sales are reportedly up 640 percent since 2017.

Where is Ballast Point beer?

Ballast Point beer sits on a shelf at a store in Ottawa, Illinois.

How many barrels of ballast point are there?

Constellation’s decision to sell Ballast Point comes after two consecutive years of declines – production dipped from a peak of 431,000 barrels in 2016 to 320,000 barrels in 2018, according to the Brewers Association.

What states does Kings and Convicts sell ballast point products in?

Those include California, Colorado, Florida, Illinois, Massachusetts, Nevada, New Jersey, New York, Texas, Virginia, Washington and Wisconsin.

How much did Constellation 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 is Watters acquisition?

For Watters, the acquisition represents an opportunity to renew the “David versus Goliath” narrative that helped build craft beer over the last decade.

How much did E&J Gallo sell for?

In April, the company announced it would sell about 30 lower-prices wine and spirits brands to E&J Gallo Winery for $1.7 billion. Cowen analyst Viven Azer welcomed today’s news, writing in a note to investors that the divestiture would allow Constellation to “redeploy resources.”.

Who is Watters' partner?

Watters tapped his brewery partner Christopher Bradley and four other investors, and secured bank financing to make the deal happen, he added.