Home / Business and Economy / Ballast Point Brewery Closes San Francisco Brewpub
Ballast Point Brewery Closes San Francisco Brewpub
27 Jul
Summary
- Ballast Point closed its San Francisco brewpub on June 29.
- The brewery was sold for $1 billion in 2015, then for $17 million in 2019.
- Ballast Point is known for its award-winning Sculpin IPA beer.
The ongoing craft beer industry downturn has prompted significant closures, with Ballast Point Brewing Company permanently shutting down its San Francisco brewpub in the Mission Bay neighborhood on June 29. This move occurred a year after the company closed a tasting room in San Diego. Ballast Point's Instagram post expressed gratitude to patrons for their support over the years.
Currently, Ballast Point maintains three active tasting rooms in Little Italy (San Diego), Anaheim, and Long Beach, California. The brewer's beers remain available in various local establishments. This latest closure is part of a series of facility reductions, including a San Diego brewery and a Temecula tasting room in 2019.
Ballast Point's financial trajectory has been dramatic. Constellation Brands acquired the brewery for $1 billion in 2015. However, its valuation dropped significantly, leading Constellation to sell it to Kings & Convicts Brewing Company for $17 million in 2019. The Brewers Association's chief economist noted Constellation's strategic decision to focus on core brands.
Founded in San Diego in 1996, Ballast Point is celebrated for its award-winning Sculpin IPA, which has garnered accolades from prestigious events like the Great American Beer Festival and the World Beer Cup.
