Belgian brewery Duvel Moortgat is to acquire a third American "craft brewery", the Firestone Walker Brewing Company from Paso Robles, California.
Growth in craft beer market
The Belgian company will get most of the shares, while the founders will maintain control over the remainder. Neither party was willing to divulge any information about the sums involved in the acquisition.
Duvel Moortgat already owns the Brewery Ommegang (Cooperstown, New York) and Boulevard Brewing Company (Kansas City, Missouri). The company feels there is a huge potential for growth in the United States, currently the second largest beer market in the world, while craft beers have grown a lot in popularity recently.
"Craft beer already represents 11 % of the total volume and 19 % of the dollars spent on beer in the United States", CEO Michel Moortgat said. "That growth will continue. Craft beers represent 30 % of Belgian volume and that means that the current 11 % in the US will probably grow to 20 %, maybe even 30 %."