AB InBev buys Blue Point Brewing
6th February, 2014 by Rupert Millar
Long Island’s oldest craft brewer, Blue Point, has been bought by AB InBev for US$24 million.
The brewing giant announced yesterday (5 February) that it was acquiring one of the oldest craft breweries in the US and its range of 40 beers.
The brewery evidently caught the eye of AB InBev when it sold 60,000 barrels last year, coupled with the on-going success of craft beer in the US and abroad.
Blue Point was founded 15 years ago in Patchogue by Mark Burford and Peter Cotter and is famous for its Toasted Lager and Hoptical Illusion beers.
Cotter said: “We are deeply grateful to our family of loyal employees and customers. Our success was made possible by the hard work of good people and good beer in Patchogue.”
Burford added: “Together, our talented brewing team and Anheuser-Busch will have the resources to create new and exciting beers and share our portfolio with even more beer lovers.”
Both men will remain at the company and AB InBev’s statement made it clear they would remain “instrumental” to the success of the brands.
AB InBev CEO, Luiz Edmond, said: “As we welcome Blue Point into the Anheuser-Busch family of brands, we look forward to working with Mark and Peter to accelerate the growth of the Blue Point portfolio and expand to new markets, while preserving the heritage and innovation of the brands.
“With Anheuser-Busch’s strong beer credentials, we share a commitment to offering high-quality beers that excite consumers. Blue Point brands have a strong following and even more potential.”
The deal is expected to be completed in the second quarter of the year. The brewery will remain in its original location.