Ballast Point is the first California craft brewery to file for an IPO – Los Angeles Times

Ballast Point Brewing and Spirits Inc. won over California beer aficionados with its Sculpin IPA, and now the San Diego craft brewer is betting that an even wider audience will want to try its hoppy beer.

The 19-year-old brewery has filed plans with the Securities and Exchange Commission to sell shares to the public. Ballast Point is just one of a few craft breweries — and the first in California — to file for an initial public offering.

The move is the latest example of the booming popularity of craft beers, especially India pale ales.

Craft brews continue to outperform the overall U.S. beer market, where it makes up 11% of volume. Retail sales of craft beer in 2014 totaled $19.6 billion, up from $8.8 billion in 2010, according to Ballast Point’s IPO filing.

California alone is home to nearly 600 craft breweries, the most of any state, according to the California Craft Brewers Assn.

Part of the appeal of craft breweries is Ballast Point’s specialty: IPAs.