Just when we thought the mad dash to snatch up craft breweries was over for the 2015 year, another acquisition rears its less- ugly- than- expected head.
Breckenridge Brewery, one of the largest craft brewers in the state of Colorado, announced today, Tuesday, December 22, 2015, that it will be sold to Anheuser- Busch InBev. It will take its place among other craft breweries now part of the growing A-B craft portfolio known as The High End, including Goose Island, Elysian, 10 Barrel, and Blue Point.
Breckenridge Brewery president Todd Usry sees the acquisition as a win-win deal for everyone.
“We’re excited about the partnership and have been encouraged to continue on our path and become more innovative moving forward,” said Usry. “I’m a believer in what The High End is focused on accomplishing and we are flattered that our team was chosen to help guide that journey. We’re looking forward to utilizing resources like decades of research and brewing expertise as we continue to create new beers.”
Breckenridge, a 70,000 barrel operation, is the sixth largest craft brewery in Colorado according to Brewers Association statistics. It was founded in 1990 and its beer is sold in 35 states, making it one of the more prolific craft beer brands.
Earlier in 2015, Breckenridge moved from its downtown Denver location to a larger facility with a restaurant in nearby Littleton. It’s a business poised for growth and now that Anheuser- Busch InBev is running the show, its brands will have access to even more markets than before. Craft beer fans are not going to be happy with the transaction, but business deals like these are becoming commonplace and are not as unsettling as they once were.
Terms of the Breckenridge/Anheuser- Busch deal have not been disclosed, but the transaction is expected to close sometime in the early months of 2016.