For the second time in four years, Ballast Point — a San Diego craft beer pioneer that became one of the areas’s largest breweries — has been sold 🍻
For the second time in four years, Ballast Point — a San Diego craft beer pioneer that became one of the areas’s largest breweries — has been sold.
In recent years, large multinationals have gobbled up small independent breweries. This time, though, a tiny independent brewery is assuming ownership of a fading brewery that was once one of American craft beer’s rising stars.Ballast Point has shaken up the craft beer industry before. In 2015, Constellation Brands paid $1 billion for the Miramar company, still a record amount for a craft brewery.
While other breweries were vying to make the bitterest IPA, Sculpin’s notable hop bitterness was balanced by a fruity sweetness. Sales initially rose, but Ballast Point peaked in 2016 at almost 431,000 barrels . By 2018, production had dropped to 320,000 barrels. Kings & Convicts said Tuesday that 2019 sales should “surpass 200,000 barrels,” conceding a further decline.
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