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Craft beer industry news.

With Funky Buddha Purchase, Constellation Shifts Acquisition Strategy to ‘Local Brands’

With Funky Buddha Purchase, Constellation Shifts Acquisition Strategy to ‘Local Brands’

Constellation Brands has acquired fast-growing Florida-based craft beer producer Funky Buddha and, in the process, formed a new “High End Craft and Specialty” business group specifically tasked with overseeing the company’s present and future craft brewery purchases. Financial terms of the deal, which closed yesterday, were not disclosed. The structure is similar to Constellation’s 2015 purchase of San Diego’s Ballast Point Brewing, which was worth $1 billion, Brewbound understands. A sale price was not disclosed, but the all-cash deal is for 100 percent of the company, according to KC Sentz, who co-founded the brewery with his brother Ryan Sentz.

Anheuser-Busch Releases 2 New Bud Light Ads

In a new creative campaign, Bud Light is going back to its roots to showcase what goes into brewing America’s favorite light lager – from its four essential ingredients, brewing process, and its commitment to quality and taste. The program highlights Bud Light’s 35-year brewing heritage and dedication to brewing the beer that people across the country can count on.

Constellation Brands Acquires Funky Buddha

Constellation Brands Acquires Funky Buddha

Constellation Brands today announced the acquisition of Florida-based Funky Buddha Brewery. Terms of the deal were not disclosed.