Just one day after Heineken Brewing Co. purchased a 50 percent stake in Lagunitas Brewing Co., another deal has been announced.
This time it is Tenth and Blake Beer Co., the craft and import division of MillerCoors, which announced via press release an agreement to buy a majority interest in San Diego, Calif.-based Saint Archer Brewing Co. According to the press release, Saint Archer will be run as a separate business unit of Tenth and Blake, and all employees will be retained in their current positions.
“We have always wanted to get great beer into more people’s hands,” said Josh Landan, Saint Archer co-founder and president, in a press release.
“We were fortunate that brewers big and small were interested in partnering with us, but Tenth and Blake was the clear choice. Tenth and Blake shares our passion for putting great beer first. Joining Tenth and Blake allows us to keep doing what we love right here in San Diego, but now with more resources to innovate and grow. With Tenth and Blake’s help, we hope to one day be a national brand.”
Saint Archer was founded in 2013 by Landan, an action sports filmmaker. It included a variety of other action sports athletes as investors.
Tenth and Blake have numerous other brands in its portfolio, including Blue Moon Brewing Co., Crispin Cider Co., Jacob Leinenkugel Brewing Co. and a minority stake in Terrapin Beer Co.
While the terms of the agreement were not disclosed, the deal is expected to be complete in October.