Rochester, NY. Constellation Brands (NYSE: STZ and STZ.B), a leading beverage alcohol company, has agreed to acquire San Diego–based Ballast Point Brewing & Spirits. Constellation Brands plans to purchase Ballast Point Brewing & Spirits for approximately $1 billion. Nixon Peabody represented Constellation in the deal.
Ballast Point is one of the fastest growing craft beer companies in the U.S. with a beer portfolio that includes more than 40 different styles of beer, including Sculpin IPA and Grapefruit Sculpin IPA. Ballast Point is on pace to sell nearly 4 million cases in calendar 2015 and net sales for calendar 2015 are expected to approximate $115 million.
As a result of the partnership with Ballast Point, Constellation will be able to leverage a high-growth premium platform enabling the company to compete in the fast-growing craft beer segment. This will further strengthen Constellation’s position in the highest end of the U.S. beer market.
Nixon Peabody’s deal team was led by Jeff LaBarge, an M&A and Corporate Transactions partner, and included partners Marjorie Fochtman, Yelena Gray, Marc Kenny, Brian Kopp, David Martland, Tom McCord, Craig Mills, Carolyn Nussbaum, John Partigan, Paul Schrier, Lloyd Spencer, and Kristen Walsh, counsel Stephanie Seiffert, and associates Sarah Abel, Issac Figueras, Eric Ideta, Danielle Kleinman, Brian Mahoney, Kate Martinez, Roseanne Sullivan, Eric Tanck, and Alison Torbitt.