Constellation Brands Selling Ballast Point Proves What Beer Aficionados Already Knew [The Motley Fool]
Constellation Brands, Inc. (STZ)
Last constellation brands, inc. earnings: 4/3 07:30 am
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Source: The Motley Fool
Constellation Brands Selling Ballast Point Proves What Beer Aficionados Already Knew Market share cannot always be bought. Just four years after dropping $1 billion on craft brewing upstart Ballast Point , Constellation Brands ( NYSE:STZ ) is selling its record-making prize for an undisclosed sum (read, pennies on the dollar) to tiny operation Kings and Convicts Brewing just outside of Chicago. According to Constellation's most recent quarterly filing, it valued Ballast Point at just $17 million. Yikes. Ballast Point will fall under the definition of "craft" again, which will likely make craft beer aficionados and fans of Ballast Point's flagship Sculpin IPA happy. But Constellation's blown keg of a deal should provide a warning to corporate beer and its attempts to respond to disruption by acquiring fast-growing upstarts. Growth via acquisition isn't all it's cracked up to be. Constellation offloading its failed takeover is contrary to what has been happening elsewhere in the indust
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STZ
Earnings
- 4/11/24 - Beat
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Sec Filings
- 4/23/24 - Form 4
- 4/23/24 - Form 10-K
- 4/19/24 - Form 144
- STZ's page on the SEC website