MillerCoors Buys Controlling Share In Saint Archer
MillerCoors, the partnership project of Molson Coors and SABMiller, has bought a controlling share in craft brewer Saint Archer, and will endeavour to make it a "national brand," thedrinksbusiness.com reports.
Saint Archer, a Californian brewer, is worth about $35 million, the Wall Street Journal estimates. It anticipates that it will sell 35,000 barrels during 2015, which is approximately twice its 2014 output.
The brand will run as an independent business under the stewardship of its president and joint-founder, Josh Landan.
He said, “We have always wanted to get great beer into more people’s hands. Joining Tenth and Blake [MillerCoors’ craft beer arm] allows us to keep doing what we love right here in San Diego, but now with more resources to innovate and grow. With Tenth and Blake’s help, we hope to one day be a national brand.” At present the beer is only available in California.
The deal is part of a current beer-market trend, following Heineken's recent purchase of half of craft beer maker Lagunitas.
© 2015 European Supermarket Magazine – your source for the latest retail news. Article by Peter Donnelly. To subscribe to ESM: The European Supermarket Magazine, click here.