Kings & Convicts Brewing, a two-year-old microbrewery in Chicago that employs nine people and annually produces about 600 barrels of beer, is purchasing Ballast Point Brewing from Constellation Brands. In 2015, Constellation Brands paid $1 billion for Ballast Point. According to Kings & Convicts Brewing’s CEO, Brendon Watters, “the price was less than $1 billion.”
“Let’s bring it back to independence and innovation and see what happens.” – Brendon Watters, Kings & Convicts Brewing CEO
Unlike Big Beer, who downsized Ballast Point over it’s 4 years of ownership, Ballast Point’s current 560 employees will all retain their jobs and 70 new employees will be hired for distribution and marketing. Kings & Convicts will move it’s headquarters from Chicago to San Diego.
Who is Kings & Convicts? This video will explain.