Anheuser-Busch Acquiring East Coast Craft Brewer

ST. LOUIS and PATCHOGUE, N.Y. – Anheuser-Busch (A-B) agreed to purchase Blue Point Brewing Co., a U.S. craft brewery with more than 40 beers and sales concentrated along the East Coast. The acquisition will bring additional resources to Blue Point's operations, allowing it to meet growing consumer demand for its award-winning brands, A-B said. Terms of the agreement were not disclosed.

Blue Point will continue to operate in Patchogue, N.Y., where it was founded by Mark Burford and Peter Cotter 15 years ago. A-B plans to invest in the brewery to grow its operational capabilities and enhance the consumer experience over the next few years, according to the announcement.

"We are deeply grateful to our family of loyal employees and customers. Our success was made possible by the hard work of good people and good beer in Patchogue," said Cotter.

The acquisition is expected to close early in the second quarter of 2014.

"Together, our talented brewing team and Anheuser-Busch will have the resources to create new and exciting beers and share our portfolio with even more beer lovers," Burford added.

In 2013, Blue Point sold approximately 60,000 barrels, with 50 percent of the volume from its flagship brand Toasted Lager. It also brews Hoptical Illusion, Blueberry Ale, seasonal brands and others.

"As we welcome Blue Point into the Anheuser-Busch family of brands, we look forward to working with Mark and Peter to accelerate the growth of the Blue Point portfolio and expand to new markets, while preserving the heritage and innovation of the brands," said A-B CEO Luiz Edmond. "With Anheuser-Busch's strong beer credentials, we share a commitment to offering high-quality beers that excite consumers. Blue Point brands have a strong following and even more potential."

Ippolito Christon & Co. acted as financial advisers to Blue Point, and Ettelman & Hochheiser P.C. acted as legal counsel.