Sector News

AB InBev to buy Devils Backbone Brewing

April 13, 2016
Food & Drink

Anheuser-Busch InBev NV on Tuesday said it agreed to acquire Devils Backbone Brewing Co., the latest addition to the beer company’s craft and import brands business.

Financial terms of the deal, expected to close in the second quarter, weren’t disclosed.

Virginia-based Devils Backbone, whose portfolio includes flagship Vienna Lager, Eight Point IPA and Schwartz Bier, joins AB InBev’s High End unit, which includes Four Peaks Brewing Co., Goose Island Beer Co., Blue Point Brewing Co., 10 Barrel Brewing, Elysian Brewing Co. and Golden Road Brewing.

“While we are joining a creative group of craft breweries in the division, Devils Backbone will retain a high level of autonomy,” said Devils Backbone co-founder and chief executive Steve Crandall in prepared remarks.

Mr. Crandall said the brewer’s existing management team plans to stay in place for many years.

Steve and Heidi Crandall opened Devils Backbone Brewing in 2008, “after being inspired by a ski trip to northern Italy in 1991 where they had their first taste of Germanic style beer.” Following the success of Basecamp Brewpub & Meadows in Roseland, they opened the Outpost Brewery & Taproom in Lexington, Va.

AB InBev is in the midst of seeking regulatory approval for its proposed $104.2 billion takeover of rival brewer SABMiller PLC, which would combine the world’s two biggest brewers. Together, the pair sell more than 30% of the world’s beer-including brands like Budweiser, Stella Artois, Grolsch and Pilsner Urquell.

By Anne Steele

Source: Wall Street Journal

Related News

May 16, 2021

Most people would at least consider trying cultured meat

Food & Drink

Just a few years ago, cultured meat (aka cultivated meat, lab-grown meat, cell-based meat) seemed as far away as flying cars. But today, like flying cars, meat grown outside of an animal may be a lot closer than we think.

May 16, 2021

Bel Group promotes Béliot to chief executive as it splits chairman and CEO roles

Food & Drink

The shift marks a new stage in the governance of Bel, allowing the company to continue implementing its strategy which focuses on three product families – dairy, plant-based and fruit.

May 16, 2021

Chameleons inspire color-changing artificial material to detect seafood spoilage

Food & Drink

Scientists in China and Germany have designed an artificial material mimicking chameleon skin to detect seafood freshness by changing color.

Send this to a friend