Are you ready to invest in San Diego craft beer?!? Reports are out that San Diego-based Ballast Point Brewing & Spirits has made the initial steps to go public by filing an S-1 with the U.S. Securities and Exchange Commission, the first step in the process to become a publicly traded company. The offering is valued up to $172.5 million, and although limited information is available, it has been disclosed that Ballast Point intends to list on the Nasdaq Global Select Market under the symbol PINT.
Founded in 1992 as Home Brew Mart, Ballast Point now has four locations in San Diego (and another on the way for Temecula) and reported $84 million in sales for the 12 month period ending June 30, 2015. Ballast Point craft brews have collected more than 200 awards from global beer competitions, including five gold and three bronze medals at the World Beer Cup, where the brewery received the prestigious “Small Brewery of the Year” award in 2010. The brewery has since launched a lineup of craft spirits, as well as canned cocktails, to add to its line of approximately 15 craft beer variations.