In news that has reverberated throughout the craft brewing industry, Anheuser-Busch announced yesterday that it has acquired 10 Barrel Brewing Company, located in Bend, Ore.
This is the second craft brewery acquisition this year for ABInBev. It acquired New York’s Blue Point Brewing in February and now owns outright three craft breweries (including Goose Island) and a stake in Craft Brewers Alliance (Redhook, Widmer & Kona), Starr Hill Brewing and Fordham Brewing.
Last year, 10 Barrel was Oregon’s No. 8 largest brewery producing 23,000 barrels. The company recently projected they would hit 40,000 barrels by the end of 2014.
From the press release:
“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.”
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.