Another Anheuser-Busch Acquisition: Craft Brewery Blue Point Brewing Co.
Following its turn as the people's-favorite advertiser during the Super Bowl for its spot featuring the bond between a puppy and one of its Clydesdale horses, today Anheuser-BuschInBevannounced it has agreed to acquire Long Island-based Blue Point Brewing Company for an undisclosed amount.
The Brewers Association trade group noted that in 2012 Blue Point Brewing Company was the 36th largest craft beer brewer in the United States, and the release today highlighted that last year Blue Point had sales of approximately 60,000 barrels. Half of those were attributable to its Toasted Lager, which the release notes is its "flagship brand."
Blue Point was founded in Patchogue, N.Y., in 1988 by Mark Burford and Peter Cotter and currently has more than 40 beers available. The release highlighted that both co-founders "will continue to be instrumental in the success of the brands," and the operations will stay in Patchogue.
"As we welcome Blue Point into the Anheuser-Busch family of brands, we look forward to working with Mark and Peter to accelerate the growth of the Blue Point portfolio and expand to new markets, while preserving the heritage and innovation of the brands," noted Anheuser-Busch CEO Luiz Edmond in a statement. "With Anheuser-Busch's strong beer credentials, we share a commitment to offering high-quality beers that excite consumers. Blue Point brands have a strong following and even more potential."
On Jan. 20, Anheuser-Busch InBev announced that it had acquired South Korea-based Oriental Brewery for $5.8 billion. Oriental Brewery was sold by Anheuser-Busch InBev to private equity firm KKR in 2009.
"We are excited to invest in South Korea and to be working with the Oriental Brewery team again. [Oriental Brewery] will strengthen our position in the fast-growing Asia Pacific region and will become a significant contributor to our Asia Pacific Zone," said Anheuser-Busch InBev CEO Carlos Brito of the acquisition. "We look forward to working with the OB team to continue to build AB InBev brands in South Korea, provide additional consumer choice and share best practices."
The acquisitions of both Blue Point and Oriental Brewery are expected to be completed by the end of the second quarter of this year.
The article Another Anheuser-Busch Acquisition: Craft Brewery Blue Point Brewing Co. originally appeared on Fool.com.Patrick Morris has no position in any stocks mentioned, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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