10 Barrel Brewing Sold To Anheuser-Busch
In the most shocking turn of events in the craft beer industry this year, Anheuser-Busch today announced it has agreed to purchase 10 Barrel Brewing Company, located in Bend, Ore. This comes on the heels of 10 Barrel's new hire and upcoming Portland brewpub. What does this mean for the company and its amazing stable of brewers?
In the video above, the owners joke around about the sale–which closes at the end of the year–but I can't imagine any of their customers are doing the same. One can argue that Bud's resources will help grow the brewery, but 10 Barrel has not had any problem doing that on its own. To me, this is bigger then the acquisitions of Goose Island and Boulevard, perhaps because it hits so close to home, but also because this company is so young and still growing. The bright side is that hopefully the beer will stay the same, but the company certainly never will be. I wonder how the staff and brewers feel about the sale and if they had any advanced notice?
From the Press Release:
One of the country's fastest-growing and most innovative breweries, 10 Barrel was one of only four U.S. breweries to win three medals and tied for most medals won at this year's Great American Beer Festival, the largest beer competition in the world.
"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 Bendand 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.
First Beverage Group acted as financial adviser to 10 Barrel, and Spencer Fane Britt & Browne provided legal counsel.
About 10 Barrel Brewing Co.10 Barrel Brewing Co. is a Bend, Ore., based brewery with one simple mindset ... brew beer, drink beer and have fun doing it. They currently distribute their brands in Oregon, Idaho and Washington. For more information, check out www.10barrel.com or get social atfb.com/10barrelbrewingco and @10barrelbrewing on Instagram and Twitter.
About Anheuser-BuschFor more than 160 years, Anheuser-Busch and its world-class brewmasters have carried on a legacy of brewing America's most-popular beers. Starting with the finest, all-natural ingredients sourced from Anheuser-Busch's family of growers, every batch is hand-crafted using the same exacting standards and time-honored traditions passed down through generations of proud Anheuser-Busch brewmasters and employees. Best known for its fine American-style lagers, Budweiser and Bud Light, the company's beers lead numerous beer segments and combined hold 47.2 percent share of the U.S. beer market. Anheuser-Busch is the U.S. arm of Anheuser-Busch InBev and operates 12 breweries, 17 distributorships and 23 agricultural and packaging facilities across the United States, representing a capital investment of more than $15.5 billion. Its flagship brewery remains in St. Louis, Mo., and is among the global company's largest and most technologically capable breweries. Visitor and special beermaster tours are available at its St. Louis and four other Anheuser-Busch breweries. For more information, visit www.anheuser-busch.com.
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