Boone-based beer maker Appalachian Mountain Brewery is being acquired by Portland-based Craft Brew Alliance Inc. for an undisclosed amount, the companies announced Wednesday.
Craft Brew Alliance also purchased Miami-based Wynwood Brewing Company and Nantucket, Massachusetts-based Cisco Brewers.
All three brewing companies will cost CBA less than $45 million, according to craft beer publication Brewbound.
According to the terms of the purchase agreement, Craft Brew will acquire the Appalachian Mountain brand, brewery and pub. The company will continue Appalachian Mountain’s support of the We Can So You Can Foundations, a public charity funded in part by the brewery, as well as other nonprofits.
Brewmaster Nathan Kelischek will remain in charge of Appalachian Mountain’s Boone location.
The company plans to boost marketing for all three breweries and provide “greater levels of support for their local communities,” CBA said in a release. Appalachian Mountain and Craft Brew first announced a production and distribution growth partnership in early 2015, during which Appalachian Mountain expanded into South Carolina and Tennessee.
Craft Brew now owns eight brewers around the country, from Appalachian Mountain in North Carolina to Kona Brewing Company in Kailua-Kona, Hawaii. Four of its breweries are located in Portland — Redhook Brewery, Square Mile Cider Co., Omission Beer and Widmer Brothers Brewing.
The transaction is expected to close by the end of the year, pending approval from the federal Alcohol and Tobacco Tax and Trade Bureau.
Appalachian Mountain became a public company in 2013. Its brewery and pub have a rating of 4.5/5 on TripAdvisor and has ranked as one of Yahoo’s Best Breweries in America. Earlier this year, the brewery took home gold at the Great American Beer Festival, winning best among American-Style Lagers and Malt Liquors.
Craft Brew remained relatively stagnant on Wednesday, falling from $17.33 to $17.23 per share. Appalachian Mountain stock dropped as well, from $1.53 to $1.40 per share.
