Constellation Brands: sells Ballast Point beer

(CercleFinance.com) - Chicago-based brewer Kings & Convicts has signed an agreement with Constellation to acquire the Ballast Point beer brand, the companies said on Wednesday.


The deal includes a number of its associated production facilities and brewpubs, excluding Constellation's operations in Daleville, Virginia.

Constellation said that it wants to focus more on its high-performance import portfolio and upcoming new product introductions, including Corona Hard Seltzer, which is set to be launched this spring.

The transaction is expected to close by the end of Constellation's fiscal 2020.

The terms of the deal were not disclosed.

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