While not MegaCo, the proposed sale of one NNY BigCo has a few familiar brands asking new questions about their futures:
The beer company could be worth around $400 million, one of the sources said. KPS has hired investment bank UBS to advise on the sale, according to that source. NAB's other brands include Honey Brown Lager, Magic Hat and Pyramid. KPS formed the company in February 2009 when it bought the Labatt brands in the U.S. for an undisclosed price from Anheuser-Busch InBev. The brewing giant needed to sell the business in order to receive Justice Department clearance for InBev's $52 billion takeover of U.S. rival Anheuser-Busch. AB Inbev still sells Labatt beer outside of the U.S. North American Breweries bought the privately held brewer of Genesee and Dundee brands in February 2009. It acquired Independent Brewers United Inc, which owned Magic Hat and Pyramid, in 2010.
Crazy. Dogs and cats living together. So maybe even more like OddCo than BigCo. You know, few shed a tear when massive industrial brewers buy each other or bust off a chunk and sell it to Brazilians or Belgians... but it's the little brands who suffer. Once upon a time Pyramid and Magic Hat were each leaders in two regional craft markets. Then came the share offers, the suits and the sales to larger and larger entities. Now they are labels photo-shopped into a schedule in a share sale prospectus.
Is this just of taste of the future of craft brewing? Could well be. I imagine were craft ever to hit a magic number like 10% of US sales, the vaults would open and a acquisition spree would be on. It's not like MegaCos won't offer and the aging crafty beer owners won't sell. Remember Pete's Wicked Ale? That beer in your hand might be next.






Comments
Pivní Filosof - September 7, 2012 4:33 AM
For some reason, I think a consolidation of craft breweries is more likely to happen. Sooner or later, bigger players like Sam Adams, Sierra Nevada, etc. will start considering acquiring smaller local craft breweries as a sound, and cheaper, way to expand their businesses. But I might be wrong.
dave - September 7, 2012 1:44 PM
@Pivni: The "consolidation of craft breweries" is how Independent Brewers United Inc started off... Magic Hat and Pyramid consolidated (http://blog.seattlepi.com/whatsontap/2008/04/29/magic-hat-brewing-company-to-acquire-pyramid-brewing/ , which formed IBU), then IBU got purchased by NAB, which is owned by KPS.
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Yes, I do believe that is the future of craft brewing. Not all of it, but part of it. Now how quickly will it happen, I'm not sure (though my timeline is over decades then years).
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@Alan: Your twitter background, is that your beer cellar?
Alan - September 7, 2012 2:18 PM
It's what it looked like in 2008 or so. More kept in boxes now. Plus (secret!) more wine in there, too. But it does remind me every day what an excellent idea Christmas saison is.
dave - September 10, 2012 3:18 PM
There are also distributorship buying/sellings (i.e. http://beerpulse.com/2012/09/report-multi-billionaire-to-buy-top-beer-wholesaler-columbia-distributing/) in America. Not sure how that would effect breweries, but there might be a connection.
About the cellar... nice. I like the pen writing on the wood for "categories".
Alan - September 10, 2012 3:37 PM
That came with the house. One shelf is also for "jam".