The craft beer renaissance continues as Constellation Brands announced it will acquire San Diego-based Ballast Point Brewing and Spirits for $1 billion.
The hefty price tag—a record amount for a US craft beer company, according to the Wall Street Journal—is a testament to Constellation’s faith in Ballast Point’s potential growth. The brewer is currently one of the fastest growing beer companies in the US with a portfolio that boasts more than 40 different styles of beer, including its popular Sculpin IPA and Grapefruit Sculpin IPA.