Anheuser-Busch Is Buying One Of New York's Biggest Craft Breweries

Anheuser-Busch Inbev will acquire Blue Point Brewing Company, the Long Island-based beer-maker known for its flagship Toasted Lager, the companies announced today.

Brewbound reports that the deal was for $US24 million. It comes weeks after AB acquired Korean beer giant Oriental Brewery for $US5.8 billion five years after selling it to KKR.

Blue Point produced 60,000 barrels last year, half of which was the Toasted Lager. The brewery also makes Hoptical Illusion and Blueberry Ale, among other seasonal expressions.

“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,” co-founder Mark Burford said in a statement.

AB has been pretty aggressive in M&A lately. In a controversial deal that required an antitrust settlement with the Justice Department, AB merged with Mexico’s Gropo Modelo last year.

The Bluepoint deal is expected to close early in the second quarter of this year.

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