US Beer and Cider Maker Tenth and Blake Buys Majority Stake in Terrapin.
26 July 2016 - Illinois-based beer and cider maker Tenth and Blake Beer Company has agreed to acquire a majority interest in Athens, Georgia-based beer maker and distributor Terrapin Beer Company, the company said.
The terms of the transaction were not disclosed. The deal is expected to complete in August 2016.
Tenth and Blake had previously purchased a minority interest in Terrapin in early 2012.
Terrapin Beer will operate as a business unit of Tenth and Blake. Terrapin's management and team will continue to create, brew, package, ship and sell Terrapin's acclaimed portfolio of brands.
The company released its first beer in 2002. Currently it has 120 employees.
Tenth and Blake Beer Company crafts breweries and imports beers and hard ciders.
The company was founded in 1996 and is based in Chicago, Illinois, and operates as a subsidiary of US-based maker, marketer, and seller of beer brands MillerCoors, LLC.
First Beverage Group acted as financial advisor to Terrapin, and Spencer Fane LLP provided legal counsel. King and Spalding LLP provided legal counsel to MillerCoors.
Target: Terrapin Beer Company
Buyer: Tenth and Blake Beer Company
Deal size in USD:
Type: Corporate Acquisition
Buyer advisor: , ,
Comment: Deal moves company from minority stake to controlling stake
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|Publication:||M & A Navigator|
|Date:||Jul 26, 2016|
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