Cutwater Spirits is not owned by Ballast Point. Let me provide you with a detailed explanation of the ownership history of these two companies.
Ballast Point, a renowned craft brewery based in San Diego, California, gained immense popularity for its high-quality beers. It was founded in 1996 by Jack White, who was passionate about brewing and creating unique flavors. Ballast Point quickly became successful and gained a loyal following for its innovative and delicious craft beers.
In 2015, Ballast Point caught the attention of Constellation Brands, a major beverage alcohol company. Constellation Brands saw the potential in Ballast Point and acquired the brewery for a staggering $1 billion. This acquisition was a significant milestone for the craft beer industry, as it showcased the value and potential of independent breweries.
However, the story doesn't end there. With the acquisition, Constellation Brands also gained ownership of Ballast Point's distillery business. Instead of keeping the distillery under the Ballast Point brand, Constellation Brands decided to spin off the distillery as a separate entity.
In 2017, Cutwater Spirits was born as a result of this spinoff. Cutwater Spirits inherited the distillery operations and continued producing a wide range of spirits, including vodka, gin, rum, whiskey, and ready-to-drink cocktails. The team at Cutwater Spirits, led by former Ballast Point executives, was determined to continue the legacy of crafting exceptional spirits with the same dedication and creativity that had made Ballast Point famous.
Fast forward to 2019, Anheuser-Busch, one of the world's largest beer companies, acquired Cutwater Spirits. This acquisition was part of Anheuser-Busch's strategy to diversify its portfolio and expand into the craft spirits market. By acquiring Cutwater Spirits, Anheuser-Busch added a range of high-quality spirits to its lineup, further solidifying its presence in the alcohol industry.
To summarize, Cutwater Spirits is not owned by Ballast Point. It was created as a separate company after the acquisition of Ballast Point by Constellation Brands. Cutwater Spirits now operates independently under the ownership of Anheuser-Busch. Nevertheless, both companies have played significant roles in shaping the craft beer and spirits industry, each with its own unique story and contributions.