“Here I am baby…signed, sealed, delivered, I’m yours!”
I think music legend Stevie Wonder had something different in mind when he wrote those lyrics. But when I hear those words, I can’t help but think about the craft beer industry and the seemingly over- willingness of America’s craft brewers to sell out to one of the big guys. And in true take-me-I’m-yours fashion, California’s Golden Road Brewing just sold out to Anheuser- Busch earlier today, adding yet another brewing operation to A-B’s craft beer portfolio.
Golden Road president and co- founder Meg Gill sees great potential for Golden Road beer, at least from a distribution standpoint and based on press release comments, she seems happy to have built a successful company with her team, only to hand it over to big beer:
“The energy and passion of the beer community is what drew me into this industry and with Golden Road we wanted to help develop the craft beer market in L.A.,” said Gill. “Our team worked hard to build Golden Road from the ground up and we are proud of the growth we’ve achieved in such a short time. California is an exciting and competitive market for beer and I see endless opportunities in partnering with Anheuser-Busch and their incredible distribution network to bring our beers to more people.”
Golden Road Brewing opened in 2011 and in just four short years, it has grown into the largest craft brewery in the Los Angeles area. Specific details of the buyout haven’t been disclosed, but considering that Golden Road Brewing is producing around 40,000 barrels and considering the prices the big brewers have paid for similar- size acquisitions in recent months, the company likely sold for between $35 million and $45 million.
Golden Road beer is presently distributed throughout California and in parts of Arizona and Nevada. With Anheuser- Busch as its parent, the distribution footprint will only grow larger. This is great for fans of the beer that would otherwise be unable to purchase it without making a special trip to the west coast. Still, it’s not going to be pleasant for Golden Road’s immediate fan base, most of whom wanted their homegrown beer to remain in local hands and may not be so forgiving of the ownership’s decision to sell out to the big guys.
“Here I am baby
Oh, you’ve got the future in your hand
I’ve done a lot of foolish things
That I really didn’t mean
Hey, hey, yea, yea, didn’t I, oh baby”
Golden Road beer fans know what you mean, Stevie Wonder. They know what you mean.
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