Beer Business Daily:
AB is acquiring eight-year old Bend, Oregon-based brewer 10 Barrel Brewing.
In addition to the Bend brewery, the acquisition will include the company’s existing brewpubs in Bend and Boise, Idaho; and a Portland brewpub scheduled to open in early 2015.
Anheuser-Busch’s purchase of 10 Barrel is expected to close by the end of 2014. Terms of the agreement were not disclosed.
First Beverage Group acted as financial adviser to 10 Barrel, and Spencer Fane Britt & Browne provided legal counsel.
“For the past eight years, we’ve been brewing beer, drinking beer and having fun doing it,” said co-founder Jeremy Cox, who will continue to lead 10 Barrel along with his partners, co-founder and brother Chris Cox, and Garrett Wales. “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,” said Jeremy.
AB’s CEO of Craft Andy Goeler 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.”
ETC. It’s long been rumored that AB craved a West Coast brand. 10 Barrel’s flagship is indeed a West Coast style IPA called Apocalypse. The Bend Bulletin reported earlier this year that the brewer ranked seventh among Oregon brewers last year, at 16,100 barrels. As of February they were distributed only in Oregon, Washington and Idaho. And just a few months ago, they went statewide in Vermont with wine and beer (MillerCoors) house Calmont Beverage Co. They’re also with Oregon-based A-B house Maletis, and Arlington, Washington’s Crown Distributing (also an A-B house) carries them too. (That’s not necessarily an exhaustive list of distributors.)
10 Barrel expects to sell approximately 40,000 barrels of beer in 2014. Apocalypse IPA, the brewer’s most popular beer, accounts for nearly half of the company’s total volume.