And the 2020 M&A season kicks off. Less than a month into the year, the first acquisition of a craft brewery in 2020 was announced today when Miller Coors disclosed the acquisition of Detroit’s Atwater Brewery
Terms of the deal were not disclosed.
Atwater sold all of its assets, including its Detroit and Grand Rapids taprooms and will be wholly owned by Molson Coors under its Tenth and Blake division. This will be the first deal for Tenth and Blake in nearly three years.
Atwater is a well-known brewery in the industry having been in business for 21 years and currently distributed in 21 states. Sales were reportedly around 20,000 barrels last year with single digit growth.
The MC Tenth and Blake division also includes Saint Archer, Leinenkugel, AC Golden, Terrapin Beer, Hop Valley and Revolver Brewing. Atwater gives the company a strong presence in the upper Midwest.