Something very fishy is going on here…
Constellation can remove predicted BP losses from its books and use predicted revenue from the sale to improve its books. Craft beer revenue didn’t grow enough. Time to bail.
“Constellation had written down the brand multiple times, citing increased competition, most recently estimating the trademark’s fair value at $17 million in an October quarterly filing, down from $223 million in early 2017.”
And apparently it’s moving heavily into cannabis.
Q4 Net income: -525,200,000 ouch!
Welp, K&C had a typo in its name here for 2 years and nobody cared. Says enough both about the current state of RB in those areas and the brewery.
Or simply that our US members are perpetually drunk. That’s a good thing, right?
There are only 14 ratings for K&C so we shouldn’t project answers/reasons for RateBeer members in general. However since 8 of the ratings are from crossovert, some conclusions might be drawn!
Based on the fact that the owner is a former hotel exec and was playing golf with a Constellation exec, I have a feeling he is very rich and is just playing in the craft beer world. He got his money and decided he wanted to get into beer, so he started a small brewery. The brewery has not been much of a success, so he decided he’d rather skip the hard part and just go right in with the big boys.