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MillerCoors takes control of US craft brewer
Georgia’s Terrapin Beer Co has been bought by MillerCoors’ craft and import division, Tenth and Blake, making it the latest in a long line of craft brewers to be snapped up by big beer companies.
Terrapin Beer Co. was founded in 2002 in Athens, Georgia
Terrapin Beer Co. was founded in 2002 by John Cochran and Brian “Spike” Buckowski. The company now employs 120 staff out of its 84,000-square-foot brewery and 100-barrel brew house, producing year-round and seasonal beers including Hopsecutioner, HI-5, RecreationAle, and Rye Pale Ale.
Tenth and Blake already held a minority stake in the company, which it purchased in 2012, with this deal giving it a majority share.
“Bringing Tenth and Blake on years ago allowed us to get to know each other better and realise the incredible potential of becoming a majority-owned partner with Tenth and Blake and MillerCoors,” said Buckowski.
“With Tenth and Blake’s dedication to helping us grow and their passion for creating high-quality craft beers, we knew it would be the perfect partnership. We look forward to continuing to create innovative beers to share with beer lovers nationwide.”
MillerCoors is the second largest brewer in the US and has been working to build its portfolio of craft brewers through its Tenth and Blake subsidiary for several years. Last year it acquired a majority stake in Californian craft beer company Saint Archer, joining a raft of producers making similar acquisitions of smaller brewers in a bid to capitalise of the continued rise of craft beer in the US.
Terrapin Beer Company will operate as a business unit of Tenth and Blake.
“The team at Terrapin is so passionate and committed to brewing such terrific beers that we are thrilled to welcome them deeper into the Tenth and Blake family,” said Scott Whitley, president and CEO of Tenth and Blake. “As owners, our job is to work collaboratively with their team to support their continued success with their innovative, award-winning beers that complement our portfolio perfectly.”
Other crafts brewers owned by Tenth and Blake include Blue Moon Brewing Company and Jacob Leinenkugel Brewing Company.
Its acquisition of Terrapin is expected to complete in August 2016.