MillerCoors Buys 3rd Craft Brewery in 3 Weeks
Steve’s breakdown: Personally, all these acquisitions of craft breweries by Bud & Miller make me want to puke but they are still new business opportunities because money pours into marketing.
CHICAGO, IL: MillerCoors is hotter than a pistol: The country’s second largest beer company continued its summer-long burst of acquisition by purchasing its third craft brewery in three weeks, today announcing that Texas’ Revolver Brewing would join its Tenth and Blake craft and import division.
Similar to its other transactions, specific financial terms were not disclosed and the deal is expected to close in the third quarter of this year.
“We are excited to be joining the Tenth and Blake family, which shares our commitment to brewing great craft beer,” co-founder Rhett Keisler said via a press release. “This partnership will allow us to maintain our brewery and operations in Granbury, while providing us with the additional resources to invest in and accelerate the growth of the Revolver brand in Texas.”
Founded in 2012, Revolver, located about 40 miles south of Fort Worth, Texas, scaled very quickly in its first three years. The company produced 5,030 barrels in 2013, a figure that grew to nearly 22,000 in 2015, according to Brewers Association records.
The brewery is best known for its “Blood & Honey” American wheat ale, a 7 percent ABV offering brewed with blood orange zest and Texas honey.
“We have tremendous respect for the quality and innovation that Revolver Brewing has brought to the Texas craft community and are thrilled to have such a terrific team and portfolio join Tenth and Blake,” Scott Whitley, the president and CEO of Tenth and Blake said in the release. “Our main priority will be to work with the Revolver team to support its continued success and make sure its beer is enjoyed by even more consumers in Texas.”
Much like it has in previous announcements, MillerCoors reported that Revolver Brewing will “operate as a separate business unit of Tenth and Blake,” and that “management and employees will continue to create, brew, package, market and sell Revolver’s portfolio of brands.”
Revolver will join a cluster of regional craft brands now in the MillerCoors portfolio, one that — in addition to Terrapin and Hop Valley — also include San Diego’s Saint Archer Brewing as well as more mainstream-targeted offerings from Blue Moon and Jacob Leinenkugel Brewing Company.