Constellation Brands buys Funky Buddha

Constellation Brands has acquired as second craft brewery, today announcing it has bought Florida’s Funky Buddha Brewery. Constellation, which also imports popular Mexican brands such as Corona and Modelo, purchased Ballast Point two years ago.

Ballast Point cost Constellation $1 billion. The terms of the Funky Buddha deal have not been disclosed.

Funky Buddha, founded in 2010 and based in Oakland Park, is projected to produce 35,000 barrels of beer in 2017, up 29% from 27,000 barrels in 2016.

“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,” Paul Hetterich, president of Constellation Brands’ beer division, said in a press release.

Funky Buddha is known for beers such as Hop Gun IPA and Floridian Hefeweizen, as well as its Maple Bacon Coffee Porter and Last Snow Coconut Coffee Porter.