SAN DIEGO — For the second time in four years, Ballast Point has been sold. This time, the San Diego craft beer pioneer was purchased for an undisclosed amount by Kings & Convicts Brewing Company in Chicago.
Four years ago, Ballast Point was San Diego’s second largest craft brewery and was sold to Constellations Brands, Inc. for a billion dollars.
The sale to Kings & Convicts includes Ballast Point’s four California taprooms in Miramar, Little Italy, Long Beach and Anaheim, as well as a new brewpub in Chicago.
Kings & Convicts has been around for two years and only employs nine people while producing 600 barrels of beer per year. In contrast, Ballast Point is expected to surpass 200,000 barrels in 2019.
According to the San Diego Union Tribune, The company plans to move their headquarters from Chicago to San Diego. Kings & Convicts will retain Ballast Point’s workforce of 560 people and plans on hiring more people to create a sales and marketing force.
The sale comes after Ballast Point hit some rocky times, closing multiple taprooms over the last few years.