Constellation Brands acquires Florida’s craft brewer Funky Buddha
American alcohol beverage company Constellation Brands has purchased Florida-based Funky Buddha Brewery for an undisclosed sum.
The deal is reported to be in line with Constellation Brands’s strategy to lead the high-end beer segment in the US.
Established in 2010 by Ryan and Giani Sentz, Funky Buddha produces craft beers at its 54,000ft² microbrewery in South Florida.
Funky Buddha head brewer and president Ryan Sentz said: "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.
"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 organisation, each of whom shares our dedication to making outstanding beer."
Funky Buddha will join Constellation's Craft and Specialty Beer Group in the beer division.
Constellation Brands beer division executive vice-president and president Paul Hetterich said: "Adding a fantastic regional brand such as Funky Buddha to our craft beer portfolio, along with Ballast Point, advances our strategy in continuing to lead the high-end beer segment.
"The Sentz family has created a culture of bold creativity, innovation and entrepreneurship. Those qualities, combined with our beer division's market reach, distributor partnerships, consumer insights, and our craft expertise within Ballast Point, will help nurture and develop Funky Buddha's distinctive brand."
Constellation Brands and Funky Buddha Brewery's teams will continue to work together.
Image: Funky Buddha's award-winning craft beer portfolio, led by Floridian Hefeweizen and Hop Gun IPA, joins Constellation's Craft and Specialty Beer Group. Photo: courtesy of Constellation Brands.