MillerCoors has confirmed that Tenth and Blake, the company’s “craft beer and import division” that carries such brands as Blue Moon and Leinenkugel, has acquired a majority stake in Terrapin Beer Co. for a yet to be disclosed sum. Tenth and Blake had already acquired a minority stake in Terrapin back in 2012, and this most recent purchase only confirms that their relationship has been quite successful since.
“The team at Terrapin is so passionate and committed to brewing such terrific beers that we are thrilled to welcome them deeper into the Tenth and Blake family,” said Scott Whitley, president and CEO of Tenth and Blake. “As owners, our job is to work collaboratively with their team to support their continued success with their innovative, award-winning beers that complement our portfolio perfectly.”
A lot will remain the same at Terrapin Beer Co., but there will be the following changes and moves within management and leadership (credit for the following investigative work goes to the folks at Brewbound):
- Terrapin Beer Co. C0-Founder John Cochran has decided to leave the company. CFO Frank Skorzewski will replace Cochran as President
- Co-Founder Brian “Spike” Buckowski will remain with Terrapin as VP of Brewing Management
- Dustin Watts will stay on as VP of Sales and Marketing
- Terrapin’s VP of Operations Brian Hollinger will also be leaving the company to pursue another opportunity
With those changes noted, Tenth and Blake assures craft beer fans that Terrapin will act merely as a “business unit” of the company and “Terrapin’s management and team will continue to create, brew, package, ship and sell Terrapin’s acclaimed portfolio of brands.” It is also rumored that this move will allow Terrapin to expand their barrel-aging program and develop a Sour Ale program in the future. We will know for sure as time goes on and this transaction should finalize by the end of August 2016. Prost!