10 Barrel Brewing, a craft beer company based in Bend, Ore., today announced it has agreed to be acquired by Anheuser-Busch InBev, the world’s largest beer manufacturer. Official terms of the deal were not disclosed.
It’s A-B InBev’s second craft acquisition this year – it purchased New York’s Blue Point Brewing in February – and reflects the beer giant’s growing interest in the craft segment.
10 Barrel expects to sell 40,000 barrels of beer this year, up from 23,500 barrels sold in 2013.
A full release is below. Official story to follow.
Anheuser-Busch today announced it has agreed to purchase 10 Barrel Brewing Company, located in Bend, Ore. One of the country’s fastest-growing and most innovative breweries, 10 Barrel was one of only four U.S. breweries to win three medals and tied for most medals won at this year’s Great American Beer Festival, the largest beer competition in the world.
“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 Cox.
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.
“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’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.