AB InBev has acquired Camden Town Brewery in a deal which it says will “pave the way for further growth and expansion”.
The group described the deal as the formation of a “partnership” and declined to reveal details but admitted that from 7 January Camden Town would be a wholly-owned subsidiary of AB InBev.
It means Camden Town joins Meantime in the AB InBev roster, although possibly not for long as AB InBev has stated its intention to sell the Greenwhich brewer.
In immediate response to the announcement, BrewDog – Camden Town’s partner in the United Craft Brewers movement – announced it would no longer stock Camden Town beers.
A statement from Camden Town said: “The deal follows a successful bid by Camden Town Brewery to raise capital via crowd funding and will support the company’s plan to build a second brewery in London, employing 30 more people and meeting growing demand for its products. The partnership will enable Camden Town Brewery to brew more of its own distinctive beers and continue to innovate, while maintaining its focus on quality.”
Founder Jasper Cuppaidge said: “Our growth has been phenomenal. To keep up with the demand for our distinctive beers we’ve had to look at expanding our brewing capacity and team. AB InBev is going to be our strategic partner, helping us maintain the character and quality of our beers, while giving us access to the investment we need to drive Camden to being ever more successful at home and abroad.
“Opportunities like this come rarely. We believe we must have the ambition to grab this opportunity and turn Camden Town Brewery, and the quality it stands for, from being an outstanding London brewer to being a world famous one.”
Iain Newell, European Director of Specialities & Craft, AB InBev, said: “We have a passion for great beer. Camden Town is a creative business with a great range of brands that will complement our existing portfolio. We will support their ambitious plans for the future, using our expertise and global distribution network to help them get their great beer to more people.”
In an unrelated press release on recent trading, Meantime’s chief executive Nick Miller, said: ”I read with interest today the news of the change of ownership of one of our fellow craft breweries in London. We wouldn’t want to speculate on why they would need to sell their business after their recent crowd funding campaign, nor what the change of ownership will mean for their business. We wish them all the best for 2016.”
