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Constellation Brands, home to breweries such as Corona, Modelo and Pacifico has announced an agreement to acquire San Diego-based Ballast Point Brewing & Spirits. We’d like to say that we’re surprised by this… but unfortunately we’re not…and it doesn’t take a genius to understand why all this is happening.
Last week’s news that the world’s largest beer company AB InBev, had finalized a $107 Billion dollar deal and with SABMiller, AB’s top competitor, is certain to impact the global beer market, and today’s announcement is just one of what will be many of that merger’s ripple effects.
Described, as one of craft beer’s fastest growing companies and having just built a new east coast brewery in Norfolk, Virginia, clearly Ballast Point will benefit from the cash infusion that this deal will no doubt provide.
At the same time, Constellation is looking to broaden their holdings and strengthen their competitive position, as Big Beer gets bigger – and the acquisition of Ballast Point will surely afford them that.
Hey, we get it…This is business. But still, we can’t help but be bummed.
And, oh yeah, everything’s going to remain the same………………whatever.
