Editor's note: This story has been updated with comment from Four Corners Brewing Co.
Four Corners Brewing Co., one of the first breweries that opened in Dallas as part of the modern craft beer movement, has sold.
Beverage giant Constellation Brands owns and produces several Mexican beer brands including Corona and Modelo, according to an announcement Tuesday. The deal closed July 10 and terms were not disclosed, says a statement.
Opened in 2012, Four Corners quickly set itself apart by releasing beer in cans with a "360 lid," which opens like a pop-top on an aluminum soup can and turns the vessel into a makeshift cup. Its Local Buzz honey golden ale and El Chingón IPA are menu staples at local bars and restaurants.
The new partnership will afford Four Corners the opportunity to expand the brand as well as distribution of the brewery's products, says George Esquivel, co-founder of Four Corners.
"We started out as home brewers that came together, we took a leap to start commercial brewery and had the gumption to scale that up," Esquivel tells GuideLive. "It's been this magical experience and this [partnership] just adds to the magic of where we've been and where we can go."
The Four Corners staff, including founders Esquivel, Greg Leftwich and Steve Porcari, will remain in place, he adds.
According to Bill Newlands, president and chief operating officer of Constellation Brands, Four Corners was an attractive partner due to "a culture that mixes adventure and innovation with elements of heritage and tradition."
"It's a compelling opportunity for Constellation because Four Corners' bicultural inspired flavors and branding capitalize on one of the hottest trends in beer -- Hispanic influenced products," he said in a statement. "George, Greg and Steve have created beers that are big on flavor, refreshing and pair well with bold Texas cuisine, while creating a brand that embraces and reflects the diversity of its people. We're excited to help them take the brand further."
Mergers and acquisitions have become commonplace in the beer business, as large producers have looked to expand their footprint in the craft market. Few deals have affected Dallas-Fort Worth, however.
Four Corners is the third local operation to be purchased by a larger company behind Revolver Brewing, which joined MillerCoors' portfolio in 2016, and Deep Ellum Brewing Co., which sold to Canarchy in June. In 2015, Constellation Brands made headlines when it purchased Ballast Point Brewing and Spirits in San Diego for $1 billion.
Four Corners originally opened in West Dallas, but relocated to the Cedars in 2017 to expand its production capability and open a taproom. Still, the brewery produced about 11,560 barrels of beer in 2017, according to Esquivel — much less than the nationally-distributed Ballast Point. The new facility, however, has the capacity to hit 25,000 barrels.
"We'll be up in that range," says Esquivel. "We have a lot of work to do across the state and we get to leverage the resources Constellation can bring."