As of yesterday, July 20, Tenth and Blake Beer Company, the craft and import division of MillerCoors, announced they have entered an agreement to acquire a majority interest in Athens, Georgia-based Terrapin Beer Company. (Tenth and Blake had previously purchased a minority interest in Terrapin in early 2012.) Terrapin joins other crafts in the Tenth and Blake portfolio, including Blue Moon Brewing Company, Jacob Leinenkugel Brewing Company, Saint Archer Brewing Company and Crispin Cider Company.
Terrapin was founded by Brian “Spike” Buckowski and John Cochran in 2002. The duo set out to make craft beers unlike any that were available in the Southeast at the time, choosing Athens as home base because of its distinctive culture and shared appreciation for music. The 84,000-square-foot brewery and 100-barrel brew house is notorious for creating year-round and seasonal beers including Hopsecutioner, HI-5, RecreationAle and Rye Pale Ale.
The transaction is expected to complete in August 2016. The terms of the transaction were not disclosed. First Beverage Group acted as financial advisor to Terrapin, and Spencer Fane LLP provided legal counsel. King & Spalding LLP provided legal counsel to MillerCoors.
More on the Terrapin/MillerCoors acquisition here.