Anheuser-Busch ups stake in craft beer
The US arm of the world’s largest brewer has acquired another craft brewery in its latest bid to tap into the fast-growing US craft beer industry.
10 Barrel is expected to sell 40,000 barrels in 2014
Anheuser-Busch, the US arm of AB InBev, confirmed on Wednesday that it had acquired 10 Barrel Brewing Co., based in Bend, Oregon, a company which its described as “one of the country’s fastest-growing and most innovative breweries”, according to reports by the Wall Street Journal.
Financial details of the deal were not disclosed, however it will also include the brewer’s two existing brewpubs in Bend and Boise, Idaho, and a third brewpub scheduled to open in Portland in early 2015.
10 Barrel’s founders Jeremy Cox, Chris Cox and Garrett Wales will continue to lead the brewery and said “little will change” following the acquisition.
“For the past eight years, we’ve been brewing beer, drinking beer and having fun doing it.” said co-founder Jeremy Cox. “We are excited to stay focused on brewing cool beers, get our beers in more hands, and make the most of the operational and distribution expertise of Anheuser-Busch.”
Andy Goeler, CEO of craft at Anheuser-Busch, said: “10 Barrel, its brewers, and their high-quality beers are an exciting addition to our high-end portfolio. The brewery is a major contender in the Northwest, an area with a large number of craft breweries. We see tremendous value in the brewery’s unique offerings and differentiated style, which 10 Barrel fans know and love.”
10 Barrel expects to sell 40,000 barrels of beer in 2014 with its Apocalypse IPA, the brewer’s most popular beer, accounting for nearly half of the company’s total volume.
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The brewery’s founders announced the acquisition by posting this video.
Earlier this year Anheuser-Busch acquired New York-based Patchogue brewery for an undisclosed sum, and the Chicago-based Goose Island for a reported $38.8 million.
It also owns a significant stake in Craft Brew Alliance, the parent company of Widmer Brothers Brewery of Portland.
Anheuser-Busch’s acquisition of 10 Barrels is expected to close by the end of 2014.
