Global brewing giant Anheuser-Busch is set to acquire Blue Point Brewing, a US-based independently owned and operated microbrewery.
The move is aimed at bringing additional resources to Blue Point's operations, enabling it to meet consumer demand for its brands.
The transaction is expected to close in early second quarter of 2014.
Anheuser-Busch also plans to invest in the brewery to grow its operational capabilities and enhance the consumer experience over the next few years.
Anheuser-Busch CEO Luiz Edmond said: "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"
Blue Point Brewing offers over 40 craft beers, including Hoptical Illusion, ESB, RastafaRye Ale, Sour Cherry Imperial Stout, Toxic Sludge, White IPA, No Apologies Double IPA, and Toasted Lager.
Beers of the brewery are available in 15 states including New York, New Jersey, Massachusetts, Connecticut, Pennsylvania, Rhode Island, New Hampshire, and Michigan.