Molson Coors Beverage Company’s craft arm, Tenth and Blake, has reached an agreement to acquire Detroit, Michigan-based Atwater Brewing. Terms of the deal were not disclosed but the deal is expected to close in the next couple of months.
“The agreement with Tenth and Blake is both the culmination of our past and the catapult to our future,” Atwater owner Mark Rieth said in a press release. “For Atwater to continue to grow, it will require both capital and brewing expertise. Tenth and Blake brings both, which makes them the ideal strategic partner to help us continue to live our mantra ‘Born in Detroit. Raised Everywhere.’”
“Atwater has been a staple and a leader in the Michigan craft community for more than two decades, and we’re thrilled to have them join Tenth and Blake,” Paul Verdu, vice president of Tenth and Blake, added in the release. “Our priority is to make sure their beer is enjoyed by consumers throughout their core markets and eventually across the Great Lakes region.”
Atwater was founded in 1997 in Detroit’s Rivertown district. Owner Mark Rieth, who invested in the company in 2002, purchased it outright in 2005. The company operates taprooms in Detroit, Grosse Pointe Park and Grand Rapids.
Atwater’s production volumes reflect a steady climb out of a turbulent dive in 2016. The brewery produced 40,225 barrels in 2014, 48,500 barrels in 2015 (+21%), 24,000 barrels in 2016 (-51%), 32,300 barrels in 2017 (+35%), and 35,500 barrels in 2018 (+10), according to trade group the Brewers Association.
In recent years, the company diversified its portfolio, adding hard seltzers and craft spirits. In 2019, Atwater partnered with the NBA’s Detroit Pistons to collaborate on Triple Double, a low-calorie, low-alcohol light ale.
Tenth and Blake includes the Jacob Leinenkugel Brewing Company, AC Golden Brewing Company, Saint Archer Brewing Company, Terrapin Beer Company, Hop Valley Brewing Company and Revolver Brewing.
The press release follows after the jump.