Tenth and Blake Beer Company, the craft and import division of MillerCoors, announced today an agreement to obtain a majority interest in Eugene, Ore.-based Hop Valley Brewing Company.
“We are very proud of what we have achieved to date, and even more excited about the future for our company and our employees,” co-founder Chuck Hare in a press release announcing the deal. “From the get-go, it has always been about the beer, and we are looking forward to working with Tenth and Blake to get our beers â€“ made right here â€“ to even more consumers.”
Hop Valley sold 38,500 barrels in 2015 and is on track to make 60,000 barrels in 2016, selling its beer in Oregon, Washington, California, Idaho and Vermont.
“Weâ€™re thrilled to join forces with the Hop Valley team, to add an incredible roster of brands that complement our portfolio perfectly,” said Scott Whitley, president and CEO of Tenth and Blake. “I’m looking forward to working with Chuck and his team to support the continued growth and success of their innovative IPAs and award-winning beers.”
Last week Tenth and Blake announced it had acquired the majority interest in Terrapin Beer Company, a Georgia brewery it already had a minority stake in. Its porfolio also includes Blue Moon Brewing Company, Jacob Leinenkugel Brewing Company, and Saint Archer Brewing Company.
Hop Valley Brewing Company will operate as a separate business unit of Tenth and Blake. The management team at Hop Valley will continue to lead the business and will retain an ownership interest.