Garden State’s Cape May acquires Flying Fish
New Jersey’s Cape May Brewing Co has acquired neighbouring craft brewer Flying Fish Brewing Co for an undisclosed sum.
Cape May, which was founded in 2011, called the union a :”strategic investment” and, although it has stayed silent on the fiscal details of the sale, experts have estimated the combined companies can generate more than US$10 million in revenue.
Speaking about the buy-out, Cape May co-founder and CEO Ryan Krill told local omnichannel business ROI-NJ how this is “a massive milestone for both Cape May and Flying Fish, who we’ve long admired as a true pioneer of craft brewing in the Garden State since its founding in 1995.”
Krill explained how it is “thrilled” that this move marks a way for Cape May to “expand” its product portfolio and noted how it is “approaching this acquisition with a focus on our core values, passion for brewing and commitment to serving our customers with the highest-quality brews”.
Krill additionally described the acquisition as a “strategic investment” and divulged that it hopes the deal will “significantly increase the company’s manufacturing and warehousing space” as well as help to “boost annual production capacity” and “add manufacturing capabilities to support the expansion of our product portfolio”.
As part of the deal, Flying Fish Brewing Co will continue to be rolled out by its wholesale distributor partners whereas Cape May will continue to operate at its existing location in New Jersey and use the Cape Beverage Distributing network throughout New Jersey and wholesale distributor partnerships in Pennsylvania and Delaware.
Krill added: “We are excited for these new opportunities, and grateful for the teams and fans of both brands who have supported the New Jersey craft beer community over the years. This may be a brand-new chapter in our company history, but it’s one that is rooted in the same values that have driven our commitment to quality, people, and refreshing brews since our founding in 2011.”
Speaking on its Instagram account this week, the brewer revealed that it is excited to announce its plans to acquire the assets of fellow New Jersey craft brewer, Flying Fish Brewing Co and pointed out that the acquisition represents “the union of two brands that charted the course for craft brewing in New Jersey” and mentioned how it is “grateful for the teams and fans of both brands who have supported the New Jersey craft beer community over the years” before reminding beer fans that they can still purchase their favourite Cape May and Flying Fish brews at all the same places.