Molson Coors Announces Agreement To Acquire Detroit Brewer
Molson Coors has announced that its Tenth and Blake Beer Company is to acquire Detroit-based Atwater Brewery.
Tenth and Blake is Molson Coors' craft beer division, and Atwater is 'highly regarded' in the Michigan craft beer community for its German-style lagers and ales, according to the company.
"The agreement with Tenth and Blake is both the culmination of our past and the catapult to our future," commented Mark Rieth, Atwater Brewery owner.
"For Atwater to continue to grow, it will require both capital and brewing expertise. Tenth and Blake brings both, which makes them the ideal strategic partner."
Other craft brewers in the Tenth and Blake portfolio include Jacob Leinenkugel Brewing Company, AC Golden Brewing Company, Saint Archer Brewing Company, Terrapin Beer Company, Hop Valley Brewing Company and Revolver Brewing.
It saw its regional craft beers post volume growth of more than 16% last year, ahead of the overall craft beer market.
“Atwater has been a staple and a leader in the Michigan craft community for more than two decades, and we’re thrilled to have them join Tenth and Blake,” added Paul Verdu, vice president of Tenth and Blake. “
Molson Coors said that the acquisition was an example of the execution of its revitalisation plan, which was launched in October 2019 to generate savings that are being reinvested across its portfolio.