Beer behemoth Anheuser-Busch InBev is purchasing a San Diego company, and it's not a craft brewery. The world's largest beer company is acquiring 100% interest in Cutwater Spirts, the previous Ballast Point Spirits division that was rebranded and launched in 2016.
Founded in 2016 by former Ballast Point executives Yuseff Cherney, Earl Kight and Jim Buechler (along with investment from Ballast founder Jack White), Cutwater Spirits quickly became a leader in the premium ready-to-enjoy cocktail market. In total, Cutwater Spirits has seven premium mixers, 14 canned cocktails and 16 types of spirits encompassing variations of whiskey, vodka, gin and rum. They currently distribute to 34 states and have experienced double and triple-digit growth since inception.
"We’re thrilled to have found a partner that understands our vision for Cutwater Spirits and will give us with the tools and resources to grow and thrive," said Cutwater Spirits Founder Yuseff Cherney. "We’re excited to join A-B and work with the team there to bring our spirits and canned cocktails to the world."
Cutwater Spirits is based in San Diego's Kearny Mesa neighborhood and operates out a 50,000 square foot production facility, bar and restaurant. The company, which will continue to be led by Yuseff Cherney, Earl Kight, and other senior-level managers will leverage Anheuser-Busch’s expertise in logistics & distribution, brand-building and packaging to scale the brand even faster. The fate of the San Diego-based restaurant and tasting room remains unclear.
"We’re excited to welcome the Cutwater Spirits team to the Anheuser-Busch family," said Marina Hahn, New Business Co-Founder, Anheuser-Busch. "We have tremendous respect for the brand that Cutwater Spirits has created and cultivated in just a few years and look forward to working with them to expand their premium canned cocktails to consumers across the U.S."
Cutwater Spirits will add ready-to-enjoy cocktails to Anheuser-Busch’s "Beyond Beer" portfolio, which already includes the Ritas, Spiked Seltzer, Babe Rose and HiBall. The partnership with Cutwater Spirits is subject to regulatory approval. Terms of the agreement were not disclosed, but it is expected to close this spring..
For more information about Cutwater Spirits, visit cutwaterspirits.com.
