Kings & Convict Brewing to Buy Ballast Point From Constellation Brands
03 Dezembro 2019 - 7:40PM
Dow Jones News
By Kimberly Chin
Kings & Convicts Brewing Co. has agreed to buy Ballast Point
Brewing Co. from Constellation Brands Inc. (STZ) for an undisclosed
sum.
The closely held brewer said the deal includes a number of
Ballast Point's production facilities and brewpubs in California
and its latest brewpub in Chicago's Fulton Market district. The
transaction excludes the production brewery in Daleville, Va.,
which will remain with Constellation.
The company said it will keep Ballast Point's existing workforce
of about 560 employees.
Kings & Convicts, which produces eponymous ales and lagers,
can be found at its taproom in Highwood, Ill., where it is
headquartered, and in bars and restaurants across the Chicago area
and Wisconsin. Meanwhile, Ballast Point is available in all 50
states as well as in 19 countries. Kings & Convicts said it has
plans to hire a sales and marketing workforce to "support long-term
growth in all 50 states."
Kings & Convicts was co-founded in 2017 by Chris Bradley and
Brendan Watters and is backed by a small group of investors.
Constellation Brands acquired the California craft brewer
Ballast Point for $1 billion in 2015.
Write to Kimberly Chin at kimberly.chin@wsj.com
(END) Dow Jones Newswires
December 03, 2019 17:25 ET (22:25 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
Constellation Brands (NYSE:STZ)
Gráfico Histórico do Ativo
De Mar 2024 até Abr 2024
Constellation Brands (NYSE:STZ)
Gráfico Histórico do Ativo
De Abr 2023 até Abr 2024
