Belgium brewer Anheuser-Busch will acquire Arizona-based craft brewer Four Peaks Brewing Company, in an effort to expand its portfolio of craft breweries.
Following the acquisition, Four Peaks brewery will continue to brew all of its beers including the flagship beer, Kilt Lifter, a Scottish-Style Ale that represents more than 60% of the company's sales.
Four Peaks co-founder Andy Ingram said: "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. 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 also brews limited editions such as cask versions of its mainstay beers and its four-time World Beer Cup-medaling Hopsquatch Barleywine. Four Peaks has also introduced newer brews such as the Pumpkin Porter, the sales of which grew more than 150% in 2014.
The acquisition will mean that Four Peaks will join the likes of Goose Island Beer Company, Blue Point Brewing Company, 10 Barrel Brewing, Elysian Brewing Company and Golden Road Brewing, marking an expansion in the robust portfolio of AB InBev's craft beers.
The acquisition will include three locations - the 8th Street Brewery & Pub in Tempe; the Wilson Street Brewery & Tasting Room in Tempe; and the Grill & Tap in Scottsdale, along with their continued association at the Sky Harbor Airport facility.
The takeover is likely to be completed in the first quarter of 2016. The financial terms of the transaction have not been disclosed. While First Beverage Group is the financial advisor to Four Peaks for the transaction, the legal advice was provided by Spencer Fane Britt & Browne.
AB InBev is in process of acquiring SABMiller, which is touted to be the biggest acquisition in the history of the industry. Currently, the Belgium brewer is trying to address the regulatory concerns arising from the proposed merger as US lawmakers fear that deal could stifle the growing craft beer industry.
