Constellation Brands' Ballast Point Brings Zesty Fathom IPA
Zacks Investment Research | Oct 03, 2017 10:37PM ET
Ballast Point Brewing Company, a unit of Constellation Brands, Inc. (NYSE:STZ) has recently announced the introduction of Fathom IPA, thus adding a new twist to the brewery’s signature West Coast-style IPAs. The Fathom IPA signifies a crisp-and-clean brew with a slight taste of malt on the surface along with zesty orange and piney hops flavors to follow.
This new Fathom IPA also caters to the needs of the beer enthusiasts looking for low alcohol levels in the craft beer category with 6% Alcohol by Volume (ABV). In addition, the brewery has come up with innovations related to packaging and graphics in order to differentiate this IPA from other Ballast Point beers. Therefore, this new packaging is expected to aid customers to easily find it on store shelves.
Markedly, the latest packaging of Fathom IPA will have a bold blue background and will feature a deep-sea diver submerged in water. Further, the company stated that other Ballast Point brands with more of sessionable ABVs and flavors, comprising Bonito Blonde and Mango Even Keel, are likely to adopt this new packaging as well.
In fact, Fathom IPA will be available in the stores from Oct 9 in six and 12 pack cans throughout the country. It will also be available in the bottles in California. Interestingly, in order to celebrate the launch of the new Fathom IPA, Ballast Point invites its beer enthusiasts to have the tastings of the new IPA at the Great American Beer Festival in Denver, from Oct 5 to Oct 7. The attendees can also taste the flavor first by visiting the brewery’s booth G15.
Notably, Ballast Point is an award-winning brewery and brews high-quality beer with latest innovations and flavors. It is among the leading craft breweries in the United States and has been serving the country for more than 20 years. Ballast Point’s well-known brands include Sculpin - the brewery’s flagship beer brand, Bonito Blonde, Mango Even Keel Session IPA, Longfin Lager, among others.
We believe the acquisition of Ballast Point has provided a high-growth premium platform to Constellation Brands, one of the largest wine companies in the world with a strong portfolio of premium wine brands. Also, the Ballast Point aids the company to compete in the fast-growing, craft beer category, alongside strengthening its position in the U.S. beer market.
Moreover, the company is focused on expanding in the craft beer space, which has become a solid growth avenue in the beer space. In this regard, management expects outstanding results from its Ballast Point craft beer brand that is currently placed among the top 20 craft brands nationwide. Evidently, Constellation Brands was the highest growth contributor in the U.S. beer category for the fourth-straight year, in fiscal 2017.
A glance at Constellation Brands’ share price performance shows that the stock has outperformed the industry year to date, on the back of an excellent surprise history and constant brand-building efforts. This Zacks Rank #2 (Buy) stock has rallied 29.8%, outperforming the Zacks Investment Research
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