{"id":23148,"date":"2019-12-03T14:27:28","date_gmt":"2019-12-03T22:27:28","guid":{"rendered":"https:\/\/archives.csusm.edu\/westcoastersd\/?p=23148"},"modified":"2019-12-04T08:57:11","modified_gmt":"2019-12-04T16:57:11","slug":"constellation-brands-sells-ballast-point-to-illinois-interest-kings-and-convicts","status":"publish","type":"post","link":"https:\/\/archives.csusm.edu\/westcoastersd\/2019\/12\/03\/constellation-brands-sells-ballast-point-to-illinois-interest-kings-and-convicts\/","title":{"rendered":"Constellation Brands sells Ballast Point to Illinois interest Kings and Convicts"},"content":{"rendered":"\n

In 2015, San Diego\u2019s Ballast Point Brewing<\/a> <\/strong>was purchased by New York-based alcohol company Constellation Brands<\/strong> for $1 billion. It was the largest acquisition of its kind and sent shockwaves through the brewing industry. At the time, Ballast Point was a promising company with a recent and grand valuation, plus steady revenue from its array of Sculpin IPA variations and strong-performing supporting brands. But managing a craft-brewing operation proved challenging for Constellation, and declining sales in an increasingly challenging marketplace led the mega-corporation to seek an exit strategy. Today, it was announced that Kings and Convicts Brewing<\/a> <\/strong>will purchase Ballast Point from Constellation, returning the 23-year-old company to independent status.<\/p>\n\n\n\n

Based in the Chciagoland area, Kings and Convicts has\nbeen in operation since 2017. It is a privately-held company backed by a small\ngroup of investors focused on long-term growth. Its current, lone brewing facility\nin Highland, Illinois, comes in at just 5,000 square feet and includes a tap\nroom. It also has a second \u201cdestination brewery\u201d in the works in Pleasant Prairie,\nWisconsin (outside of Milwaukee). That facility will come in at 48,000 square\nfeet and is expected to open next fall.<\/p>\n\n\n\n

Included in the deal are all of Ballast Point\u2019s brewing and public venues, save for the East Coast brewery in Daleville, Virginia, which opened in 2017 and will continue to be utilized by Constellation to brew beers of its other acquired craft brands, Funky Buddha Brewery<\/a><\/strong> and Four Corners Brewing<\/a><\/strong>. The Kings and Convicts acquisition includes Ballast Point\u2019s headquarters in Miramar and Linda Vista’s Home Brew Mart <\/strong>as well as brewpubs in San Diego\u2019s Little Italy community, Anaheim\u2019s Downtown Disney area, Long Beach and Chicago\u2019s Fulton Market District. <\/p>\n\n\n\n

Kings and Convicts plans to move its operations from Illinois to San Diego. It will also retain all of Ballast Point\u2019s current staff, including longtime fixture, vice president and specialty brewer Colby Chandler<\/strong>, who says of the impending deal, “Two things have been consistent in the 23-and-a-half years I’ve been at Ballast Point: quality beer is one and change is the other. I don’t expect either one to stop.”<\/p>\n\n\n\n

\u201cWe\u2019re excited to welcome the team at Ballast Point\ninto the Kings and Convicts family,\u201d says Brendan\nWaters<\/strong>, Kings and Convicts\u2019\nchief executive officer. \u201cAs craft brewers, we have long admired the quality and\nspirit of the Ballast Point brand and team. Their best in-class brewing\nstandards will remain unchanged, delivering the same high-quality,\naward-winning beer the company has become known for over the years. Our goal is\nto leverage Ballast Point\u2019s deep know-how, talented and passionate employee\nbase, and outstanding operating team to grow both Ballast Point and Kings and\nConvicts together.\u201d<\/p>\n\n\n\n

Sales and marketing are the first points of order\ncalled out by Kings and Convicts, which will utilize Ballast Points U.S.\ndistribution network in 49 states (all except West Virginia). Ballast Point\nbeers are also distributed to 19 countries. Production volume for the current\ncalendar year is expected to come in above 200,000 barrels. Financial terms of\nthe deal\u2014which is expected to close in a matter of months, once all licenses and\npermits have been received\u2014were not disclosed.<\/p>\n\n\n\n

\u201cWe look forward to engaging the community and\ngetting a connection back to the local markets through our distributor\npartners, on- and off-premise retailers and our dedicated salesforce\nambassadors,\u201d says Chris\nBradley<\/strong>, Kings and Convicts\u2019\nchief operating officer. \u201cBallast Point has well-established R&D programs\nand we want to continue fostering that innovation and experimentation by\nlistening to our consumers and serving specialty and local beers in each market.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

In 2015, San Diego\u2019s Ballast Point Brewing was purchased by New York-based alcohol company Constellation Brands for $1 billion. It was the largest acquisition of its kind and sent shockwaves through the brewing industry. At the time, Ballast Point was a promising company with a recent and grand valuation, plus steady revenue from its array […]<\/p>\n","protected":false},"author":7,"featured_media":23149,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[368,1],"tags":[],"class_list":{"0":"post-23148","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-beer-news","8":"category-san-diego-beer-beverage-news","9":"entry"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/archives.csusm.edu\/westcoastersd\/wp-content\/uploads\/2019\/12\/ballastpoint1.jpg?fit=1024%2C546&ssl=1","wps_subtitle":"Kings and Convicts Brewing acquisition renders local company again independent","jetpack_shortlink":"https:\/\/wp.me\/pdtr4y-61m","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/archives.csusm.edu\/westcoastersd\/wp-json\/wp\/v2\/posts\/23148","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/archives.csusm.edu\/westcoastersd\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/archives.csusm.edu\/westcoastersd\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/archives.csusm.edu\/westcoastersd\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/archives.csusm.edu\/westcoastersd\/wp-json\/wp\/v2\/comments?post=23148"}],"version-history":[{"count":0,"href":"https:\/\/archives.csusm.edu\/westcoastersd\/wp-json\/wp\/v2\/posts\/23148\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/archives.csusm.edu\/westcoastersd\/wp-json\/wp\/v2\/media\/23149"}],"wp:attachment":[{"href":"https:\/\/archives.csusm.edu\/westcoastersd\/wp-json\/wp\/v2\/media?parent=23148"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/archives.csusm.edu\/westcoastersd\/wp-json\/wp\/v2\/categories?post=23148"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/archives.csusm.edu\/westcoastersd\/wp-json\/wp\/v2\/tags?post=23148"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}