Artisanal Brewing Ventures (ABV) has secured a deal to acquire US cider brand Bold Rock as it looks to extend its portfolio beyond craft beer.
Through this partnership, Bold Rock becomes ABV’s fourth partner brand, combining with its existing portfolio of Sixpoint Brewery, Southern Tier Brewing Company and Victory Brewing Company.
Founded in 2012 in Virginia, Bold Rock also makes a range of hard seltzers featuring apple-based alcohol, as well as a range of ready-to-drink canned cocktails.
Bold Rock’s four taproom locations will be added to ABV’s current footprint of nine open or announced taprooms, giving the company access to more than 2 million customers a year.
“With the addition of Bold Rock, ABV is strongly positioned to address the evolving needs of the craft consumer,” said John Coleman, CEO, ABV.
“Bold Rock’s portfolio is a perfect complement to ABV’s other partner breweries by bringing consumers a leading hard cider, a new hard seltzer and a line of canned cocktails. Adding Bold Rock to the ABV family shows a commitment to bring craft consumers great brands across segments to best meet the needs in all of their drinking occasions.”
As part of ABV – the 11th largest craft brewer in the US according to trade group the Brewers Association – Bold Rock will also partner with Sixpoint, Southern Tier and Victory to leverage collective consumer data and insights “to build an impactful innovation program and marketing approach”.
Bold Rock founders John Washburn and Brian Shanks will remain with the company in leadership roles.
“Our dream was to bring people together to create special memories and meaningful experiences while enjoying our products,” said Washburn.
“Since then, we have formed a number of phenomenal relationships with consumers, distributors, and retail partners, as well as with our own employees. Now, by joining ABV, a very talented, passionate, and high-performing beverage company, we can extend our brand to new consumers up and down the east coast, creating more special memories and unique experiences.”
Brian Shanks added: “Many consumers, distributors and accounts have urged us to expand to their areas. Now, we have the resources and capabilities to do just that while also creating more growth opportunities for our team. We look forward to taking Bold Rock and ABV to new heights together.”
The transaction is expected to close before the end of the year.
The announcement comes days after New Belgium Brewing agreed to sell 100% of the company to Kirin-owned Lion Little World Beverages.
© FoodBev Media Ltd 2019