Investing.com -- Anheuser-Busch Inbev SA (N:BUD) said Friday it has reached an agreement to acquire Arizona-based Four Peaks Brewing Company, as the multinational beer empire bolstered its emerging craft beer division by inking its sixth brewery to an already distinguished list of innovative brands.
Four Peaks, which has earned numerous awards for its distinctive English-style bitter, American-syle Strong Pale Ale and Scottish-style Ale flavors at the Great American Beer Festival in Denver, was founded in Tempe, Arizona nearly two decades ago less than a mile east of the main campus of Arizona State University. By year's end, the brewery expects to sell roughly 70,000 barrels of beer, nearly doubling its sales from three years ago. The brewery will continue to produce its Kilt Lifter, a Scottish-Style Ale, that accounts for more than 60% of its sales, as well as its Pumpkin Porter brew, which has seen its revenues surge by more than 150% over the last year.
"For 20 years we’ve had more amazing experiences than I can count doing what we love to do most – brewing great beer and sharing it with a growing craft community in Arizona that has supported us from day one," Four Peaks co-founder Andy Ingram said in a statement. “We’re excited to join the enthusiastic team and tap into their resources to expand our footprint and share our beer with even more people moving forward."
Four Peaks will join Goose Island Beer Company, Blue Point Brewing Company, 10 Barrel Brewing, Elysian Brewing Company and Golden Road Brewing as part of The
High End, Anheuser Busch In-Bev's diverse portfolio of craft beers.
"It’s exciting to partner with another group of passionate craft beer founders, this time in the great state of Arizona," said Andy Goeler, CEO, Craft, The High End. "What Andy and the team have been able to accomplish is remarkable and a testament to their culture and portfolio of great beers. We look forward to learning from each other and bringing more Four Peaks beers to craft lovers in the Southwest."
Terms of the deal were not disclosed.
In November, Anheuser Busch In-Bev agreed to terms on a massive $108 billion merger with SABMiller PLC (L:SAB) in a deal that could provide the new company with nine of the world's top 20 beers by volume. The deal is expected to receive intense regulatory scrutiny in numerous countries during a process that could take upwards of a year. Shortly thereafter, regulatory officials expressed concern that the deal could restrain sales among craft brewers.
Shares in Anheuser Busch In-Bev gained 0.43 or 0.35% to 124.43 in after-hours trading.