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Home Beer Report: Ballast Point sells to Constellation Brands for $1 billion

Report: Ballast Point sells to Constellation Brands for $1 billion

The San Diego brewery and sprits maker joins the same portfolio of brands as Corona and Modelo.
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BEER NAMEReuters reports that Constellation Brands, an international producer and marketer of beer, wine and spirits whose brands include Corona and Modelo, announced Monday morning it would purchase San Diego brewery Ballast Point for $1 billion. Ballast Point, founded in 1996, brews Sculpin IPA, Longfin Lager, The Commodore Stout and others; distills a line of spirits; and recently introduced canned ready-to-drink cocktails.

The acquisition should be complete by the end of 2015. It comes on the heels of last week’s news that Anheuser Busch-InBev will acquire SABMiller for $107 billion, creating the world’s largest beer company.

 

Author
Kate Bernot is DRAFT’s beer editor. Reach her at kate.bernot[at]draftmag.com.

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