Chicagoland-based Kings & Convicts Brewing Co. announced today it has signed an agreement with Constellation Brands, Inc., to acquire Ballast Point. A pioneer in the craft beer movement in San Diego, Ballast Point has a 20-plus-year history of supporting the art of homebrewing and creating high-quality, innovative and award-winning beer.
“We’re excited to welcome the team at Ballast Point into the Kings & Convicts family,” said Brendan Watters, Kings & Convicts’ chief executive officer. “As craft brewers, we have long admired the quality and spirit of the Ballast Point brand and team. Their best-in-class brewing standards will remain unchanged, delivering the same high-quality, award-winning beer the company has become known for over the years. Our goal is to leverage Ballast Point’s deep know-how, talented and passionate employee base, and outstanding operating team to grow both Ballast Point and Kings & Convicts together.”
Kings & Convicts will retain all positions within Ballast Point’s existing workforce, which is comprised of approximately 560 employees. The company will continue to utilize Ballast Point’s current U.S. distribution network and plans to hire a sales and marketing workforce to support long-term growth in all 50 states.
Kings & Convicts is a privately-held company backed by a small group of investors who are passionate about the Ballast Point brand and who are focused on the long term. As part of the transaction, Kings & Convicts will acquire Ballast Point’s four brewpub locations in California, including Downtown Disney/Anaheim, Long Beach, Miramar, and Little Italy, as well as Ballast Point’s original homebrewing supply and tasting room in San Diego’s Linda Vista neighborhood.
We look forward to engaging the community and getting a connection back to the local markets
“We look forward to engaging the community and getting a connection back to the local markets through our distributor partners, on and off-premise retailers and our dedicated salesforce ambassadors,” said Chris Bradley, Kings & Convicts’ chief operating officer. “Ballast Point has well-established R&D programs and we want to continue fostering that innovation and experimentation by listening to our consumers and serving specialty and local beers in each market.”
Current volume of Ballast Point is expected to surpass 200,000 barrels in 2019 and is available in all 50 states as well as internationally in 19 countries including South Korea, Sweden, Australia, and New Zealand.
Financial terms of the deal, which is expected to close once all licenses and permits have been received, were not disclosed.