Tue, 22 Dec 2015 | BUSINESS SALE
Craft beer maker Camden Town Brewery has been brought by corporate drinks business AB InBev.
The local brewery announced on Monday (21 December) that the acquisition was in process, confirming that it will be a 100 per cent sale, designed to work as a “strategic partnership” that provides Camden Town Brewery with “the security we need to continue”.
In a statement the brewery's founder, Jasper Cuppaidge, said: “Opportunities like this come rarely. We believe we must have the ambition to grab this opportunity and turn Camden Town Brewery, and the quality it stands for, from being an outstanding London brewer to being a world famous one.”
For AB InBev, the deal will see the company add a creative and niche craft beer to its brand portfolio, which currently includes world famous names such as Stella Artois and Budweiser.
The firm's European director of specialities and craft, Iain Newell, added: “Opportunities like this come rarely. We believe we must have the ambition to grab this opportunity and turn Camden Town Brewery, and the quality it stands for, from being an outstanding London brewer to being a world famous one.”
The North London brewery started full production in 2010 with an original staff of just three people. The company now boasts a team of 95 and sells its beers in over 1,000 pubs, with overseas establishments already showing interest.
At the moment there are no confirmed details regarding price on the acquisition and the companies have stated that the terms of the agreement are not being disclosed. The deal is expected to complete on 7 January 2016.
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