Anheuser-Busch InBev today announced the acquisition of the rapidly growing Ohio craft brewery Platform Beer Co.
Financial terms for the transaction were not disclosed.
In a press release, AB noted that the platform was "the fastest growing regional brewery in the United States in 2017." According to data from the Brewers Association, Cleveland craft brewery increased production from 6,500 barrels to 20,000 barrels that year.
The platform joins A-B's "Brewers Collective" of acquired craft breweries. Brewers Collective members include 10 Barrel Brewing Co., Blue Point Brewing Company, Breckenridge Brewery, Devils Backbone Brewing Company, Elysian Brewing Company, Four Peaks Brewing Co., Golden Road Brewing, Goose Island Beer Company, Karbach Brewing Co., Veza Sur Brewing Co., Virtue Cider, and Wicked Weed Brewing.
“When we talk to the other craft brewery founders in the Brewers Collective, we know that working with Anheuser-Busch means that we want the resources and autonomy to bring our vision for Platform Beer Co. to life, ”co-founder Paul Benner said in the release. "Being able to continue to lead day-to-day operations was an important factor in our decision, and we have no doubt that this partnership will benefit our loyal staff and passionate customer base."
Benner and Justin Carson founded the Platform in 2014 The company operates four facilities in Ohio, including a tasting room in Cleveland, a 60-bar brewery in Cleveland, and tasting rooms in Columbus and Cincinnati. The company also plans to open its own brewing facility and tasting room with sour beer called "Phunkenship" in Cleveland, and a barrel brewery and tasting room with 10 barrels in Pittsburgh.
"We are excited to invest even more in our local economy through capital improvements and job creation," co-founder Justin Carson said in the release. "We will be able to provide our staff with resources such as robust healthcare services that include parental leave, 401K and growth opportunities such as we do not yet have, and will make the platform an even better place to work and grow. "
Brewers Collective President Marcelo“ Mika ”Michaelis added that the world's largest beer producer was attracted to the platform's" experiential mindset. "
" [W] e look forward to supporting their growth plans as they continue to push boundaries through their intrinsic craft values of education, connection and collaboration, and it is this growth that will give beer drinkers access to even more choices in today's competitive and dynamic beer market, " he to.
According to AB, it has invested more than $ 130 million in its craft breweries following the acquisition, enabling these companies to hire more employees, open new facilities and expand production volumes.
The acquisition of Platform ends a two-year period in which the company had not purchased a craft brewery since purchasing Wicked Weed in May 2017.
Brewbound profiled platform in January. At the time, the company said it was aiming for 40,000 barrels in 2019. According to the national trading group Brewers Association, the platform's production increased 35 percent, to 27,000 barrels, in 2018. Read more about Platform's 2019 plans here.
A press release with further details is included on the next page.