UPDATE 2-Constellation Brands to buy craft beer brewer Ballast Point

lunes 16 de noviembre de 2015 13:56 GYT
 

* Deal for $1 bln, Constellation's biggest deal since 2012

* No impact from AB InBev-SABMiller deal-Constellation CEO

* Deal to add $0.05-$0.06 to Constellation's 2017 EPS

* Ballast to operate as standalone craft arm

* Constellation shares up 1.5 pct in afternoon trading (Adds Constellation CEO comments, details, shares)

By Sruthi Ramakrishnan

Nov 16 (Reuters) - Constellation Brands Inc said it will buy Sculpin IPA-owner Ballast Point Brewing & Spirits for about $1 billion to enter the fast-growing craft beer market, in what will be its biggest acquisition since 2012.

Constellation does not expect the Anheuser-Busch InBev-SABMiller Plc colossus to hurt its market of high-margin Mexican brews such as Corona and Modelo in the United States, Chief Executive Rob Sands told Reuters.

"We focus almost fully on the high end of the beer business, and we are really focused only on the U.S. domestic business," Sands said.   Continuación...