Tren Griffin @trengriffin I work for Microsoft. Previously I was a partner at Eagle River, a private equity firm established by Craig McCaw. I am on the board of directors of Kymeta. Dec. 05, 2019 1 min read

Ballast Point Brewing, which Constellation Brands paid $1B only four years ago, is being acquired by a small Chicago suburban 600 barrel a year micro brewery "with less than 200 Twitter followers." 

"Twitter followers" is the new "adjusted EBITDA!"

"Ballast Point is a former 'craft brewer' who lost their craft brewer designation, but would now theoretically possess it once again, having shrunk by more than 50% since the time it was stripped away." 

"That a craft brewer primarily produce beer was changed in the definition—something that was again necessary to keep Boston Beer Co. in the fold after its beer production slipped... At this point, “Boston Malt Beverage Co.” would be a more truly accurate name."

A flavored malt beverage version of Corona is craft beer?

"Corona Refresca, which comes in guava lime and passionfruit lime flavors, will be marketed as a 'premium spiked refresher' targeting women from 25 through 29 years old" 

Once brewing 431k barrels of beer per year, Ballast Point may only sell 200k this year. Beer Marketer’s Insights reported the deal was consummated for a "surprisingly low price."

Rumor is price was determined on a P/TF basis (Price/Twitter Followers). 

You can follow @trengriffin.


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