Belgian owner of Ommegang and creators of the famous Duvel beer to purchase Kansas City craft brewery Boulevard Brewing Company.
Duvel Moortgat, the Belgian owners of Brewery Ommegang in Cooperstown, N.Y. will purchase Boulevard Brewing Company of Kansas City, Mo. in a deal that will combine one of the country’s largest craft breweries with the domestic and import branches of a high-end international brewing conglomerate in a separate holding company focused on U.S. sales.
The deal, announced Thursday afternoon, is expected to close before the end of the year. While terms were not disclosed, industry sources have estimated its value as at least $100 million.
Michel Moortgat, the chief executive officer of Duvel Moortgat, said the acquisition is initially being financed with bank debt that the company plans on reimbursing with cash flow from the parent company’s international business.
Boulevard, which sold 173,793 barrels of beer in 2012, and Brewery Ommegang, which sold 37,800 hectoliters (approximately 32,200 barrels), will be rolled into a holding company that will also control all of Duvel Moortgat’s import brands in the U.S. In 2012, the company sold a combined 63,200 hectoliters (about 53,800 barrels) in the U.S.
More details at BrewBound.com.