MillerCoors acquires Hop Valley Brewing
August 4, 2016 - 11:19 AM- by Kendall Jones, Washington Beer Blog -
On Friday, July 29, 2016, MillerCoors announced that it acquired Hop Valley Brewing of Eugene, Oregon. This marks the company’s second craft brewery acquisition in a month and its third craft brewery acquisition within the past year. Northwest hop lovers will recognize Hop Valley as the producer of beloved brews like Citruss Mistress, Alphadelic IPA, and Alpha Centauri Imperial IPA. Financial terms of the deal have not been released.
Earlier this month, MillerCoors acquired a larger stake in Terrepin Brewing of Athens, Georgia, a company in which it already held a smaller stake. Last September it acquired a major stake in Saint Archer Brewing of San Diego, California. Hop Valley will become the fifth brand in the MillerCoors Tenth and Blake division, which already includes Blue Moon, Leinenkugel, Terrapin, and Saint Archer.
Hop Valley Brewing opened in 2009 in Springfield, Oregon and moved to a larger facility in nearby Eugene in 2013.
“This partnership is an important regional play for Tenth and Blake as it provides us with a strong strategic partner in the IPA and hoppy beer space in the highest indexing craft market in the U.S.,” said Tenth and Blake President and Chief Executive Scott Whitley in a prepared note.
“Hop Valley’s approach is very much like Tenth and Blake’s in that it offers high-quality, innovative, sessionable craft beers—yet it brings heavy IPA experience that will complement Tenth and Blake’s portfolio,” said Whitley.
MillerCoors is a joint venture between SABMiller and Molson Coors Brewing Company. The joint operating venture sells brands such as Miller Lite, Miller High Life, Coors, Coors Light, Molson Canadian, Leinenkugel’s, Crispin Hard Cider Company, Saint Archer Brewing Company and Blue Moon. The company also brews the brands of beer that are owned by Pabst Brewing Company.
MillerCoors brews, markets and sells the MillerCoors portfolio of brands in the U.S. and Puerto Rico. MillerCoors is the second-largest beer company in America, capturing nearly 30 percent of U.S. beer sales.
The purpose of the joint operating venture, which combines Miller, Coors and Molson brands under one umbrella, is to better compete against Anheuser-Busch InBev, the largest international brewing company in the world.
Anheuser-Busch InBev recently acquired MillerCoors (see our previous stories on this topic).