Cigar City Sold (Not to Anheuser-Busch)

[TheCat]

So the rumors were true. Despite years of denials by craft brewing cult hero Joey Redner, he was, in fact, in serious talks to sell Tampa's Cigar City Brewing (CCB) to craft enemy number one, Anheuser-Busch InBev (A-B). Brewbound reported today that late last year, Redner signed a secret and exclusive letter of intent with AB that fell through when A-B executives didn't present a formal offer before the deadline. The news is making the passionately territorial craft community simultaneously angry and relieved.

But heads in the chattering class are spinning all the faster because that's not the biggest CCB news of the day. Redner may have escaped a marriage he told Brewbound "never felt 100 percent right" but he found himself a new bride almost immediately, announcing his wedding this morning to Fireman Capital, owner of the popular Colorado outfit Oskar Blues Brewery and several others.

"I decided to join up with Oskar Blues because we were running out of runway at the brewery. We are capacity capped and I didn't want to borrow money. Just my personal philosophy. So finding a partner that could help us with capacity, operational and technical know-how and the capital needed for growth was what we needed," the 43-year-old emails.

The seven-year-old company whose extremely limited Hunaphu's Imperial Stout engenders a fanatical international following will join Oskar Blues, Michigan's little-known Perrin Brewing, and the Utah Brewers Cooperative (comprised of pioneers Wasatch Brewery and Squatters Craft Beers) to form United Craft Brews LLC. Fireman created the holding company specifically to fund craft brewery acquisitions.

Participants in the deal declined to disclose the terms but told Brewbound they expect to close within 90 days on the deal that will buy out Redner's father, who owns a minority share, and Redner's shares as well. Redner junior will retain ownership through the holding company and will reportedly stay on as CEO...

http://www.forbes.com/sites/taranurin/2016/03/14/cigar-city-brewing-sale-proves-rumors-true-sort-of/#77edf0075b2a