Ballast Point sold to Chicago-based "Kings & Convicts"
Ballast Point Brewery's brand and a number of production facilities and pubs will be sold to Chicago-based brewer Kings & Convicts Brewing Co.
According to a news release from Ballast Point's current owner, Constellation Brands, the sale will not include the company's Craft & Specialty operations in Daleville. The release goes on to say all current jobs within the entire Ballast Point workforce will be retained, and added support will also be hired.
“Ballast Point remains one of the most iconic craft beer brands in the country and we’re pleased to transition the business to an owner that can devote the resources needed to fuel its future success. At the same time, this decision allows Constellation to focus more fully on maximizing growth for our high-performing import portfolio and upcoming new product introductions, including Corona Hard Seltzer, scheduled to launch this spring," says Constellation Brands president and chief executive officer, Bill Newlands.
Ballast Point's production facility in Daleville opened in September 2017 and is still open. The taproom and restaurant closed in September, 2019.
Constellation Brands, Inc. bought Ballast Point for $1 billion four years ago.
No terms of the deal have been released. The sale is supposed to be closed by the end of Constellation's fiscal 2020.