Last updated on July 3rd, 2019 at 07:24 pm
Tenth and Blake Beer Co. plans to acquire Texas-based Revolver Brewing, the third craft brewer the company has acquired this summer.
The craft and import division of Chicago-based MillerCoors, Tenth and Blake announced an agreement Thursday to acquire a majority interest in Revolver, which is based in Granbury, Texas. Terms of the deal were not disclosed.
“We are excited to be joining the Tenth and Blake family, which shares our commitment to brewing great craft beer,” said Rhett Keisler, Revolver Brewing co-founder and president. “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.”
Revolver was founded in 2012 by father and son duo Ron and Rhett Keisler, along with brew master Grant Wood. The company’s flagship brand, Blood & Honey, is described as a “uniquely approachable craft beer that has quickly become one of the leading craft brands in the Dallas-Fort Worth market.
“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,” said Scott Whitley, Tenth and Blake president and chief executive officer. “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.”
Revolver will operate as a separate business unit of Tenth and Blake, with the company’s management and employees continuing to produce, package and market Revolver’s portfolio.
The arrangement is similar to those that Tenth and Blake announced with its acquisitions of Georgia-based Terrapin Beer Co. and Oregon-based Hop Valley Brewing Co. Those transactions, and the deal with Revolver, are expected to close in the third quarter.
During the most recent MillerCoors earnings call, Whitley and Kevin Doyle, MillerCoors president for sales and distributor operations, said retailers have been reducing shelf space available for larger and national craft brands, opting to carry smaller, local brands instead.
“For national crafts, it’s been a bit of a tougher go from a growth profile standpoint,” Whitley said at the time.
Tenth and Blake’s portfolio also includes Blue Moon Brewing Co., Jacob Leinenkugel Brewing Co., and Saint Archer Brewing Co.