Following the news of Terrapin Beer Company's sale to MillerCoors' Tenth & Blake division in July, Terrapin co-founder John Cochran has purchased North Carolina’s Altamont Brewing. Cochran plans to rebrand the Asheville company as Up Country Brewing Co., and has stated that all of Altamont’s current staff will be retained.
WHY IT MATTERS
When a craft company sells to one of the macros, it's not necessarily an indicator that the former's owners are looking for an exit plan from craft beverage. In Cochran's case, this is an experienced industry professional looking for ways to explore new ideas in a rapidly evolving beer industry—and now he has funding to pursue them.
The fallout from Goose Island's 2011 sales to AB-InBev was a vibrant set of new breweries—Off Color, Penrose, Moody Tongue, and Whiner, for starters. As more breweries are acquired by the likes of ABI and MillerCoors, expect these numbers to increase as well.
Following 14 years with Terrapin, Cochran now jumps headfirst into an exciting new beer marketplace—one lacking the archaic restrictions he's lived with for so long in Georgia. Cochran says he plans to keep the 7-barrel Asheville brewery small and distribute locally under the new Up Country Brewing Co. moniker.
Following Sale to MillerCoors, Terrapin Co-Founder Purchases Asheville Brewery [Brewbound]