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MarketScreener Homepage  >  Equities  >  Nyse  >  Constellation Brands, Inc.    STZ

CONSTELLATION BRANDS, INC.

(STZ)
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Constellation Brands : Kings & Convict Brewing to Buy Ballast Point From Constellation Brands

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12/03/2019 | 05:26pm EST

By Kimberly Chin

Kings & Convicts Brewing Co. has agreed to buy Ballast Point Brewing Co. from Constellation Brands Inc. (STZ) for an undisclosed sum.

The closely held brewer said the deal includes a number of Ballast Point's production facilities and brewpubs in California and its latest brewpub in Chicago's Fulton Market district. The transaction excludes the production brewery in Daleville, Va., which will remain with Constellation.

The company said it will keep Ballast Point's existing workforce of about 560 employees.

Kings & Convicts, which produces eponymous ales and lagers, can be found at its taproom in Highwood, Ill., where it is headquartered, and in bars and restaurants across the Chicago area and Wisconsin. Meanwhile, Ballast Point is available in all 50 states as well as in 19 countries. Kings & Convicts said it has plans to hire a sales and marketing workforce to "support long-term growth in all 50 states."

Kings & Convicts was co-founded in 2017 by Chris Bradley and Brendan Watters and is backed by a small group of investors.

Constellation Brands acquired the California craft brewer Ballast Point for $1 billion in 2015.

Write to Kimberly Chin at kimberly.chin@wsj.com

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Financials (USD)
Sales 2020 8 064 M
EBIT 2020 2 579 M
Net income 2020 -117 M
Debt 2020 11 921 M
Yield 2020 1,65%
P/E ratio 2020 -337x
P/E ratio 2021 20,3x
EV / Sales2020 5,77x
EV / Sales2021 5,88x
Capitalization 34 618 M
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Technical analysis trends CONSTELLATION BRANDS, INC.
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 224,48  $
Last Close Price 181,62  $
Spread / Highest target 51,4%
Spread / Average Target 23,6%
Spread / Lowest Target 1,86%
EPS Revisions
Managers
NameTitle
William A. Newlands President, Chief Executive Officer & Director
Robert S. Sands Executive Chairman
David Eric Klein CFO, Chief Accounting Officer & Executive VP
Richard E. Sands Executive Vice Chairman
James A. Locke Lead Independent Director
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