AB InBev continues craft beer spree with acquisition of Belgian brewer Bosteels

11-Sep-2016 - Last updated on 13-Sep-2016 at 07:46 GMT

Bosteels Brewery will maintain its brewery location in Buggenhout, Belgium, where it will continue to brew its three beer varieties.

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Anheuser-Busch InBev (AB InBev) has acquired Belgian brewer Bosteels in a deal estimated at $225.4m, expanding its portfolio of craft beer breweries.

According to a joint press release from Bosteels Brewery and AB InBev, the family-run Bosteels will continue to operate the brewery as part of AB InBev’s craft and speciality division and will remain in its home location of Buggenhout, Belgium.

Kwak_Bosteels-small — Bosteels' Kwak beer is served in a distinctly-shaped glass supported by a wooden stand, a design which dates back to the 19th century, the company said.

The Belgian brewery uses traditional beer recipes dating back to the 17^th century with its flagship Tripel Karmeliet, a mixture of wheat, oats, and barley originating out of Carmelite monastery in the Flemish province of Dendermonde, Belgium.

The brewer's Tripel Karmeliet, Kwak and Deus brands are distributed throughout European markets including France, Italy and the Netherlands. Last year, the brewer produced roughly 3.8m gallons of beer, with its Tripel Karmeliet and Kwak brands growing 20% to 30% in 2015.

Adding to craft beer roster

Since 2011, AB InBev has made craft brewery acquisitions including Chicago’s Goose Island, Blue Point Brewing, Elysian Brewing, Breckenridge Brewing, and most recently, Devil’s Backbone Brewing, located in Virginia.

Brewery chief Antione Bosteels, who will remain chairman of the board of Bosteels Brewery, said in a press release that he was very happy about the acquisition and that he believes AB InBev and Bosteels have the same values and commitment toward brewing premium craft beer.

“Looking at the many awards and high ratings that brands and AB InBev breweries have received, you can already see that we will be part of a great community of brewers,” Bosteels said in a statement.

AB InBev still in pursuit of finalizing SABMiller deal

Disclosure of the deal is likely to come as a surprise to some, as AB InBev has still not completed its $105.49bn purchase of SABMiller, but has made further headway into acquiring craft brewers throughout the world.

AB InBev and SABMiller agreed on an expected timetable of the merger at the beginning of August, where both parties said they would hold a shareholders meeting Sept. 28, 2016 and completion of the combination will be on October 10, 2016.