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Ballast Point to Sell for $1 Billion

In another landmark deal for the increasingly contentious world of craft beer, Ballast Point Brewing & Spirits has agreed to sell to Constellation Brands for a cool $1 Billion. This marks the first entry into the craft market for the company which owns an array of brands including Corona, Modelo, and variety of wine companies.

Founded in 1996, the San Diego-based Ballast Point has become one of the fastest growing beer companies in the U.S., with projected sales of over 4 million cases in calendar 2015, an increase of over 100 percent from the previous calendar year. See the full press release below.

VICTOR, N.Y. and SAN DIEGO, Calif., Nov. 16, 2015 – Constellation Brands (NYSE: STZ and STZ.B), a leading beverage alcohol company, today announced an agreement to acquire San Diego-based Ballast Point Brewing & Spirits. Ballast Point is one of the fastest growing craft beer companies in the U.S. with a beer portfolio that includes more than 40 different styles of beer, led by its popular Sculpin IPA and Grapefruit Sculpin IPA. The partnership with Ballast Point provides a high-growth premium platform that will enable Constellation to compete in the fast-growing craft beer segment, further strengthening its position in the highest end of the U.S. beer market.

Ballast Point started in 1996 as a small group of home brewers and remains dedicated to the art of making better quality craft beer. Ballast Point will continue to operate as a stand-alone company with its existing management team and employees running the day-to-day operations. The company is one of the most successful and respected craft beer companies in the country, with an expertise in brewing the most premium, highest quality award winning products, and a grassroots approach to innovation that engages beer lovers and home brewers in the process. The Ballast Point team will continue to build on its successful expansion across the U.S., and will now have access to Constellation’s strong financial position and willingness to invest in growth.