Ballast Point Brewing Company Sells For $1 Billion

After the September sale of Saint Archer to MillerCoors another homegrown San Diego craft brewery just announced its acquisition by a leading U.S beverage distributor. Today Constellation Brands Inc. revealed it would add San Diego’s Ballast Point Brewing Co. to its beer division in a rumored $1 Billion deal expected to close by the end of the year.

Best known for its Sculpin IPA and Grapefruit Sculpin IPA, Ballast Point is one of the fastest-growing craft beer companies in the U.S. with a 40-product strong portfolio. Initial reports suggest the brewery will continue to operate as a stand-alone company with its existing management team and employees running day-to-day operations. The 19-year old brewery made headlines last month as one of the first craft breweries in Southern California to file for an initial public offering, joining the likes of Boston Beer and Kona brewer Craft Brew Alliance.

According to the press release on Brewbound.com Jack White, founder of Ballast Point Brewing & Spirits, said of the companies vision 'to produce great beer that consumers love' they needed to find the right partner:

"The team at Constellation shares our values, entrepreneurial spirit and passion for beer, and has a proven track record of helping successful premium brands reach the next level of growth and scale."

Based in Victor, N.Y. Constellation is the third largest beer company in the U.S., and counts imported brands like Corona Extra, Modelo Especial, Negra Modelo and Pacifico amongst its roster.

With four facilities, including its Little Italy tasting room and flagship Home Brew Mart location in Linda Vista, Ballast Point has grown to become one of San Diego’s most recognizable brands. It currently employs more than 400 people, and distributes products across 30 states in addition to international sales as far afield as Japan and Australia.