Brooklyn-based craft brewery Five Boroughs Brewing Co. has been acquired by Smuttynose Brewing Co. The acquisition is the latest craft-on-craft deal that allows the acquiring company access into new markets and greater efficiencies by consolidating production into one brewery.
Smuttynose is currently distributed in 25 states and 11 countries and is owned by Finestkind Brewing LLC,. This deal will give the New Hampshire brewery access to distribution in the New York market and an expanded presence in the tri-state area. All of Five Boroughs’ production will transition to the Smuttynose facility in Hampton. Five Boroughs’ taproom in Sunset Park, Brooklyn, will continue to operate as an innovation hub for the brewery, supporting new projects, including small-batch beers for select accounts.
Smuttynose was founded in 1994 in Portsmouth, New Hampshire. In 2014 the company moved into a brand-new facility on a historic 17-acre site in Towle Farm in Hampton. The facility featured a four-vessel, 100hl, automated brew house, state-of-the-art bottle-filling equipment, tours, tastings and a nine-hole disc golf course. After a brief four years at the new facility the company announced a bank auction of the brewery. The Provident Bank purchased the company at auction for $8.25 million and it was quickly sold to Runnymede Investments which formed Finestkind.
The acquisition represents a new chapter for Finestkind Brewing as it explores potential expansion into new beverage categories, including non-alcoholic options, according to the press release. “Smuttynose Brewing is committed to ongoing portfolio development and establishing a new beverage platform, with a focus on geographical diversification and a warm welcome to like-minded brands eager to join its expanded portfolio,” says the release.
Five Boroughs Brewing Co. was established in 2017 and is available throughout New York, New Jersey, and Connecticut.