Funky Buddha Brewery has been acquired by Constellation Brands, Inc. The Florida-based brewery will join Constellation’s Craft & Specialty Beer Group, which also includes Ballast Point Brewing Co., which the company purchased in late 2015.
“We chose to partner with Constellation because we saw an alignment in vision and felt they gave us the greatest opportunity for growth and development,” said Ryan Sentz, head brewer and president at Funky Buddha, in a press release. “Constellation and Funky Buddha share a lot of the same ideals and passion for philanthropy, entrepreneurship and the art of craft beer. At the end of the day, we just really like the people we have met within the organization, each of whom share our dedication to making outstanding beer.”
Constellation Brands is the third largest beer company in the U.S., owning the American rights to the Corona and Modelo brands. It is also a major player in the wine industry with the Robert Mondavi, Clos du Bois and Kim Crawford brands among others. In addition, the company’s spirits brands include both SVEDKA Vodka and Black Velvet Canadian Whisky, and it purchased Casa Noble Tequila in 2014 in a deal valued at over $1 billion.
Founded in 2010 by husband and wife team Ryan and Giani Sentz, Funky Buddha Brewery produced 27,000 barrels of beer last year, and is projected to produce 35,000 barrels of beer in 2017, according to the South Florida Business Journal.
According to the press release, all of Funky Buddha Brewery’s employees will retain their current positions, and the brewery’s the day-to-day operations will remain unchanged.
Terms of the transaction were not disclosed.