MillerCoors Buys Majority of Athens' Terrapin Beer Co.

ATHENS, GA — Beer giant MillerCoors has purchased a majority stake in Terrapin Beer, the popular, Athens-based craft brewery.

Founded in 2002 and named after a Grateful Dead album, Terrapin had been considered a proudly independent brand, even after MillerCoors bought a minority interest in the company in 2011.

The controlling stake in Terrapin now goes to Tenth and Blake, MillerCoors' craft and import division.

"Bringing Tenth and Blake on years ago allowed us to get to know each other better and realize the incredible potential of becoming a majority-owned partner with Tenth and Blake and MillerCoors," said Brian "Spike" Buckowski, Terrapin Beer Company co-founder and vice president, in a news release.

"With Tenth and Blake's dedication to helping us grow and their passion for creating high-quality craft beers, we knew it would be the perfect partnership. We look forward to continuing to create innovative beers to share with beer lovers nationwide."

The transaction is expected to complete in August 2016. The terms of the transaction were not disclosed.

Terrapin's 84,000-square-foot brewery and 100-barrel brew house creates year-round and seasonal beers including Hopsecutioner, HI-5, RecreationAle, and Rye Pale Ale.

Terrapin Beer Company 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 list of beers.

"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."

Other Tenth and Blake holdings include Blue Moon Brewing Company, Jacob Leinenkugel Brewing Company and Saint Archer Brewing Company.

The purchase could set Terrapin up for an expansion beyond the 12 mainly Southeastern states where it is currently distributed.

(Image via TerrapinBeer.com)