[reverseapachemaster]

Except the sale didn't include the distilling side

I haven't seen anything that credibly reports the distilling operations as excluded from the sales.

[ranchovillabrew]

Except the sale didn't include the distilling side

I haven't seen anything that credibly reports the distilling operations as excluded from the sales.

http://www.brewbound.com/news/constellation-brands-makes-a-1-billion-bet-on-craft-beer

"It also bought access to the Ballast Point Spirits trademark, a potentially lucrative component of the deal and something McGrew said would “absolutely be a point of emphasis going forward.”

Constellation will not, however, take ownership of Ballast Point’s individual spirit brands like Fugu Vodka and Devil’s Share Whiskey. The rights to those properties have been relinquished and will be independently owned by White and chief operating officer Yuseff Cherney. White and Cherney plan to establish and co-own a new, yet-to-be-named distillery, the equipment for which is currently housed inside one of the company’s four brewery locations."

[reverseapachemaster]

I would venture a guess that Ballast Point branded spirits are more valuable than the actual spirits Ballast Point produced that are getting spun off. With the intellectual property for Ballast Point spirits Constellation can buy bulk spirits and package them under the Ballast Point name and/or build in a new distilling operation.