It appears Constellation has had enough of the craft beer sector. It’s not difficult to see why. The company bought Ballast Point Brewing in 2016 for $1 billion at the incredible height of the craft brewery acquisition craze. Constellation borrowed $400 million to make that transaction happen. Only a few years later in 2019, Constellation sold the Ballast Point brand to Illinois-based Kings and Convicts Brewing Co. for supposedly something like $40+ million.
In 2023, Constellation is now shedding the rest of its craft beer brands — Florida’s Funky Buddha Brewery and Texas’ Four Corners Brewing Co. — and saying see ya to the craft sector. When it comes to beer, Constellation is a fan of Mexican imports like Modelo and Corona (and why not?!?) and I guess collaboration beers with Luke Bryan (Two Lane).
News just dropped that the founders of Funky Buddha Brewery — Ryan and KC Sentz — are reacquiring their Oakland Park, Florida.-based business from Constellation Brands. Its flagship beer portfolio, including Floridian and Hop Gun, will remain available for distribution. From the press release:
“Beverage innovation has always been our biggest strength, and Ryan and his team have some incredible ideas in the pipeline,” said KC Sentz, Owner and Co-Founder of Funky Buddha Brewery. “As we approach our 10th anniversary, it seems like the perfect time for our business to evolve and reignite the community’s passion for craft beverages.”
Funky Buddha was founded in 2010 in Boca Raton, Florida, by husband and wife Ryan and Giani Sentz. As the demand for Funky Buddha’s beers grew, Ryan and Giani invited Ryan’s brother KC Sentz, and his wife Melissa Sentz, to join the business. In 2013, the Sentz family started Funky Buddha Brewery, located in the heart of Oakland Park’s burgeoning Culinary Arts District. The brand was acquired by Constellation Brands in 2017 where it went through a rebranding.
“We enjoyed working with Constellation and we learned a lot from them. As we embark on the next chapter, we plan to push boundaries and create entirely new drinking experiences in beer and beyond,” added Ryan Sentz, Owner and Co-Founder. “We’ll be serving good vibes on tap for many years to come.”
The reacquisition of Funky Buddha Brewery by the Sentz brothers is targeted for June 2023.
Complementing this move, Texas news outlets announced last week that Constellation was selling Four Corners Brewing back to its original owners as well. Four Corners was founded by three friends — George Esquivel, Greg Leftwich and Steve Porcari — in 2012 in west Dallas. Grounded in Texas roots, Four Corners’ portfolio plays up Hispanic-American styles, flavors and branding that complemented Constellation’s marquee beer brands, pushing popular nameplates like Local Buzz Honey-Rye Golden Ale and El Chingón IPA. Even with similar beers, the fit wasn’t exactly right.
From the The Dallas Morning News:
“This is a small and growing brand, and it needs different attention and focus, and that’s what we’re going to put into it,” Esquivel tells The Dallas Morning News. “We’re getting back to the entrepreneurial roots we started with.”
Here is Esquivel a few years ago, when I interviewed him after the acquisition:
“Mexican imports are about heritage and tradition; while craft beers are typically about flavor and adventure. Four Corners Brewing bridges both. Texas is a special place when one considers flavor profiles versus environment. The climate is hot and humid, so you constantly crave refreshment. Meanwhile, Texas food is as bold as can be — smoked meats, Tex-Mex, tacos with salsas and chiles. That’s standard fair. Our intent is to balance the two dynamics with flavors that pair with bold food but still quench a thirst.”
In finale, I guess kudos to Constellation for selling these brands back to the folks who started them.
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