People also ask
Why did Constellation Brands fail to grow Ballast Point?
Since acquiring Ballast Point for roughly $3,500 per barrel, Constellation has failed to grow the brand nationally, and the company has admitted to overpaying for the brand by recording nearly $200 million in impairment charges in 2019 and 2017.
How much did Ballast Point sell for?
Ballast Point Was Once Valued at $1 Billion. It Just Sold for a ‘Surprisingly Low’ Amount Chicago’s Kings Convicts purchased the brewery from Constellation Brands which paid $1 billion for it four years ago. Buy low; sell high. It’s an obvious investing maxim but it bears repetition for a good reason: It goes against human nature.
Could Ballast Point be a sustainable national brand?
And sure, Ballast Point may not generate the kind of excitement it did back when Sculpin IPA was taking the world by storm, but they at least have a chance to become a sustainable national brand with the right guiding hand. That said, Constellation probably never hoped that Ballast Point would become a losing venture for them.
What happened to craft beer trends after Ballast Point acquisition?
鈥淭rends in the U.S. craft beer segment have shifted dramatically since our acquisition of Ballast Point,鈥?Constellation Brands president and CEO Bill Newlands said via the release.