Because a week without a massive brewery buy-out is like a day without Twinkies, Constellation Brands has just purchased San Diego’s Ballast Point Brewing for $1 billion. Billion. Founded in 1996, Ballast Point brews craft beer favorites such as Sculpin IPA and Grapefruit Sculpin. Via the Los Angeles Times:
The Ballast Point brand has also grown aggressively over the past several years, expanding production capacity and nearly doubling sales in 2015. Ballast Point filed an application for a public stock offering in October, and this “IPA IPO” got the attention of Constellation Brands, who swooped in with the $1-billion offer before the public had a chance to buy their own piece of Ballast Point.
Ballast Point will join such luminary brands as Corona and Modelo, so this ups the quality of Constellation’s beer brands just a smidge. Now, I’d sell out for a billion bucks in a hot second if the opportunity presented itself, but we’re going to run out of beverage behemoths to consume each other pretty soon, aren’t we?