Another craft brewery has been swallowed up by big brew.
Terrapin Beer, the award winning Athens, Georgia based craft brewery best known for its Golden Ale, Rye Pale Ale, and Liquid Bliss announced today it has agreed to a takeover bid from MillerCoors. The brewing giant, which is about to become part of Anheuser- Busch InBev pending approval from the U.S. Justice Department, made the Terrapin acquisition deal through its Tenth & Blake subsidiary,
Many are not aware of this but MillerCoors already had a minority stake in Terrapin dating back to 2012. The fact that MillerCoors decided to stretch its interest beyond the 50 percent mark should therefore not come as too great a surprise. It’s also not too surprising that another craft brewery would become part of a large, well- established brewery, since this trend has been moving along steadily in recent years.
Terrapin will continue to operate much as before and will retain its management team. MillerCoors stated in a news release that the present management is committed to the craft and they see no reason to change how the company operates.
“The team at Terrapin is so passionate and committed to brewing such terrific beers that we are thrilled to welcome them deeper into the Tenth & Blake family”, said Scott Wiley, the CEO and president of MillerCoors Tenth & Blake.
Terrapin Beer is located in the city of Athens, best known as the home of the University of Georgia. The brewery has been based in this college city since its founding in 2002. The business has grown considerably over the years and today sports an 84,000 square foot facility and 100 barrel brewhouse.
Terms of the offer were not disclosed, but the deal is expected to be finalized in August, 2016.
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