AB InBev buys remaining stake in Virtue Cider

AB InBev, via its High End division, has purchased the remaining stake in Michigan’s Virtue Cider, taking full control of the company.

Virtue was founded in 2011 by former brewmaster of Goose Island Beer Company (now also owned by AB InBev) Gregory Hall, in partnership with Stephen Schmakel and 31 investors, in Roscoe Village in Chicago. In 2013, Hall moved the company to Fennville in Michigan.

The company produces a range of ciders from the classic Michigan Brut, aged in French oak barrels, to the Mitten, which is aged in Bourbon barrels for up to a year.

In 2015, AB InBev purchased a majority stake (51%) in Virtue, using Goose Island’s packaging and warehouse facilities to increase both its production and distribution. According to High End division president Felipe Szpigel, AB InBev’s initial investment had “quadrupled its cider production”.

The brewing giant has now purchased the remaining 49% stake for an undisclosed sum. According to Brewbound, who obtained a copy of an email that Szpigel sent out to business partners, Virtue Cider will now move into Goose Island offices in Chicago.

In the email, Szpigel also wrote that the takeover will enable AB InBev to “fully integrate” Virtue into its wholesaler network.

Continuing, Szpigel said: “Greg Hall and Steve Schmakel will continue to drive the vision and possibilities for Virtue.” The pair will continue to serve on AB InBev’s “craft advisory board”.

In addition, it has been announced that Todd Ahsmann, former president of AB InBev-owned Blue Point Brewing Company, is to take over from Ken Stout as president and general manger of Goose Island’s US business. Due to AB InBev’s takeover, Ahsmann will also be responsible for running Virtue Cider too. Stout is to become the president of Goose Island International.