Another multinational beverage alcohol group has consolidated its presence in craft beer as Constellation Brands has divested Funky Buddha Brewery in Florida.
The sale, to the brewer’s founders Ryan and KC Sentz, comes at “the ideal time for the original owners to reclaim control of the company and focus on beverage innovation, new consumer experiences and additional product lines”. Financial details around the transaction, which ends a six-year reign for Constellation, were not disclosed.
Earlier this month, the US division of Anheuser-Busch InBev sold North Carolina-based Appalachian Mountain Brewery back to its founders after three years.
Describing Constellation’s ownership as having been “successful” in growing distribution, KC Sentz said: “As we approach our tenth anniversary, it seems like the perfect time for our business to evolve and reignite the community’s passion for craft beverages.”
Also this month, Constellation made an alcohol-free play in the US, purchasing a minority holding in the Töst brand.
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