Anheuser-Busch InBev, the country’s largest brewer, has agreed to buy the Blue Point Brewing Company in a move that could help it capitalize on the popularity of craft beer.
The deal, announced on Wednesday, would bring a Long Island beer company with a devoted following into a family of brands that includes Budweiser, Stella Artois, Beck’s and - as of last year - Corona. Blue Point, which calls itself “Long Island’s oldest and most award-winning brewery,†is known for its creativity and independent spirit.
Terms of the deal between Blue Point and the United States arm of Anheuser-Busch InBev were not disclosed. It is expected to close in the second quarter.
For Anheuser-Busch InBev, the deal is the latest move to expand its reach. Last month, it agreed to repurchase Oriental Brewery, a South Korean brewer, nearly five years after it sold the company to the private equity firm Kohlberg Kravis Roberts.
And last year, Anheuser-Busch InBev completed a merger with Grupo Modelo of Mexico, a marriage that was only possible after an antitrust settlement with the Justice Department. Under that pact, Anheuser gave up the rights to distribute Corona and other Modelo brands in the United States, though it kept the ability to sell the beers in Mexico and elsewhere.
Blue Point Brewing, based in Patchogue, N.Y., since its founding 15 years ago, will continue to operate there, according to the announcement. The deal will give it capital to expand its operational ability and “enhance the consumer experience,†the announcement said.
“Together, our talented brewing team and Anheuser-Busch will have the resources to create new and exciting beers and share our portfolio with even more beer lovers,†Mark Burford, a co-founder of Blue Point, said in a statement.
Blue Point sold about 60,000 barrels last year, with half of the volume attributable to its flagship Toasted Lager. Its brands also include Hoptical Illusion, Sour Cherry Imperial Stout, Blueberry Ale, Toxic Sludge and various seasonal brews.
The company, whose other founder is Peter Cotter, won a World Beer Cup award in 2006 for Toasted Lager.
“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,†Luiz Edmond, the chief executive of the United States arm of Anheuser-Busch InBev, said in a statement.
Blue Point received financial advice from Ippolito Christon & Company and legal advice from Ettelman & Hochheiser.
