The craft and import division of Chicago-based MillerCoors, Tenth and Blake Beer Co., has expanded its portfolio by acquiring a majority interest in Georgia-based Terrapin Beer Co.
[caption id="attachment_137151" align="alignright" width="405"]
The MillerCoors office building in Milwaukee.[/caption]
Tenth and Blake previously acquired a minority interest in Terrapin in 2012. Brian “Spike” Buchowski, Terrapin co-founder and vice president of brewing development, said the partnership allowed the two sides to get to know each other and see the potential of Tenth and Blake having majority ownership.
The transaction is expected to be complete in August. The terms of the transaction were not disclosed. Terrapin Beer Company will operate as a business unit of Tenth and Blake. Terrapin's management and team will continue to create, brew, package, ship and sell Terrapin's beers.
Terrapin was founded by Buckowski and John Cochran in 2002. The company has an 84,000-square-foot brewery and 100-barrel brew house in Athens, Ga. Its seasonal and year-round beers include Hopsecutioner, HI-5, RecreationAle, and Rye Pale Ale.
Fans of the beer asked on Twitter if the acquisition would result in wider distribution. The company tweeted
that it is focused on its current markets at the moment but will be planning expansion in the future.
"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 and Blake family," said Scott Whitley, Tenth and Blake president and chief executive officer. "As owners, our job is to work collaboratively with their team to support their continued success with their innovative, award-winning beers that complement our portfolio perfectly."
Other craft beer brands in the Tenth and Blake portfolio include Blue Moon Brewing Co., Jacob Leinenkugel Brewing Co. and Saint Archer Brewing Co.