E-Malt.com News article: USA, CO: New Belgium Brewing reportedly looking for a buyer

Reuters reported on December 18 that Colorado-based craft brewer New Belgium is looking for a buyer.

The story said New Belgium is looking for a deal that would value the company at more than $1 billion.

New Belgium did not deny the report.

When News 13 asked New Belgium about the report, Kim Jordan, New Belgium founder, gave the following statement: “New Belgium's Board of Directors has an obligation to have on-going dialogue with the capital markets with the goal of making sure that we remain strong as leaders in the craft brewing industry."

New Belgium says it's opening its Asheville brewery in February. This news soured the mood for local craft beer enthusiasts at Hi-Wire.

"I moved down from Ohio to Asheville for craft beer. I personally wouldn't drink their brand ever again," Ben Cooper said.

New Belgium announced the Asheville brewery will open in March for tours. Right now, they're making a test batch of brews. According to the U.S. Brewers' Association, New Belgium is the eigth largest overall American brewing company.

"We look forward to them coming here," David Gantt said, Buncombe County Commissioner Chairman.

New Belgium promised to invest $175 million and create 130 new jobs. Gantt did not think a sale would put those promises in jeopardy.

"We don't have any doubts. We've had a good relationship with New Belgium since they expressed interest in moving here," Gantt said. "We've had regular contact with them, and if they want to change their corporate ownership whatever is good for New Belgium is good for Buncombe County."

Right now, New Belgium is 100 percent employee owned.

"If it got bought out, it would ruin what's special," Malik Johnson said.

Whatever's good for New Belgium may not be what Beer drinkers want.

"I probably wouldn't go honestly. I think the beer just wouldn't be as good in general. There would be corners cut," Johnson said.

One local craft brewery owner said New Belgium would be worth more than $1 billion. Reuters reported Ballast Point Brewing sold for around $1 billion. Ballast Point is the 37th largest brewing company.


23 December, 2015