ABI adds to US craft brewing portfolio
Acquires Oregon's 10 Barrel Brewing for undisclosed sum
Anheuser-Busch continues to add to its collection of microbrewers, this month acquiring Oregon-based 10 Barrel Brewing for an undisclosed sum.
10 Barrel’s name belies a bigger operation, with it expecting to sell approximately 40,000 barrels of beer in 2014. Apocalypse IPA, the brewer’s most popular beer, accounts for nearly half of its total volume.
“For the past eight years, we’ve been brewing beer, drinking beer and having fun doing it,” said 10 Barrel 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.”
Cox will stay with 10 Barrels under AB ownership, along with his partners, co-founder and brother Chris Cox, and Garrett Wales.
In addition to a brewery in Bend, Oregon, the acquisition includes 10 Barrel’s existing brewpubs in Bend and Boise, Idaho, and a Portland brewpub that is scheduled to open in early 2015. Anheuser-Busch’s purchase of 10 Barrel is expected to close by the end of 2014.
“10 Barrel, its brewers, and their high-quality beers are an exciting addition to our high-end portfolio,” said Andy Goeler, CEO, Craft, Anheuser-Busch. “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.”
Anheuser-Busch started acquiring US craft brewers three years ago when it paid $38.8 million for Chicago's Goose Island brewery.Earlier this year it acquired Blue Point Brewing Co, based in the state of New York, for an undisclosed sum.
Anheuser-Busch is the US arm of Anheuser-Busch InBev and operates 12 breweries, 17 distributorships and 23 agricultural and packaging facilities across the United States, representing a capital investment of more than $15.5 billion.