Founded in 1997, Atwater Brewery is known in Michigan craft beer community for its traditional German-style lagers and ales. Its top beers include Dirty Blonde, Vanilla Java Porter, Better Life Choices and Decadent Dark Chocolate. The brewer, which also produces hard seltzers and craft spirits, also operates three taphouse and biergarden locations in Detroit, Grosse Pointe Park and Grand Rapids.
Mark Rieth, owner of Atwater Brewery, says Tenth and Blake will help the brewery expand. "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.'" Rieth and his management team will continue to lead Atwater's day-to-day operations.
Tenth and Blake says it will help the brewery develop its core markets and then expand across the Great Lakes region. Other craft brands in its portfolio include the Jacob Leinenkugel Brewing Company, AC Golden Brewing Company, Saint Archer Brewing Company, Terrapin Beer Company, Hop Valley Brewing Company and Revolver Brewing.
Tenth and Blake’s regional crafts posted volume growth of more than 15% in 2019, while the overall craft segment was just above flat.
Not only does today’s acquisition of @atwaterbeer build on our successful model of growing regional crafts, it is a clear indication of how serious we are about our plans to invest across our entire portfolio as we revitalize @MolsonCoors. https://t.co/z1BPEWi1jt— MillerCoors (@MillerCoors) 22 January 2020
Molson Coors says the acquisition is an example of how it is executing its revitalization plan, which was launched in October 2019 to generate and reinvest savings. It has also taken a stake in beverage incubator L.A. Libations; announced it will air ads during the pro football championship for the first time in years; and launched new creative campaigns for a range of brands.
The transaction is expected to be completed within the next couple of months. Terms were not disclosed.