Less than a week after MillerCoors became the sole property of Molson Coors, following federal regulators’ approval of a $107 billion beer merger between SABMiller and Anheuser-Busch InBev and SABMiller, the brand announced it would continue its growth spurt, this time buying craft brewer Hop Valley Brewing Co.
The deal, announced on Friday, brings together Oregon-based Hop Valley — the maker of beers like Alphadelic, Citrus Mistress, and Alpha Centauri — Tenth and Blake Beer Company, MillerCoors’ craft and import division.
“We are very proud of what we have achieved to date, and even more excited about the future for our company and our employees,” Charles “Chuck” Hare, Hop Valley Brewing Company co-founder, said in a statement. “From the get-go, it has always been about the beer, and we are looking forward to working with Tenth and Blake to get our beers – made right here – to even more consumers.”
Under the deal, for which financial details were not available, Hop Valley will operate as a separate business unit of Tenth and Blake. The current management team will remain at the help and retain an ownership interest, MillerCoors said in a statement.
The deal is expected to be completed this fall.
“We’re thrilled to join forces with the Hop Valley team, to add an incredible roster of brands that complement our portfolio perfectly,” Scott Whitley, president and CEO of Tenth and Blake, said in a statement.
MillerCoors’ purchase of Hop Valley comes just a week after the company’s Tenth and Blake division also bought Georgia-based Terrapin Beer Company, maker of Hopsecutioner, HI-5, RecreationAle, and Rye Pale Ale.
by Ashlee Kieler via Consumerist
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