In a big deal for L.A.’s growing craft beer scene, Atwater Village brewery Golden Road is being acquired by beer giant Anheuser-Busch, the companies announced Wednesday.
Terms of the deal were not disclosed, but Golden Road is the largest of the more than two dozen craft breweries in Los Angeles County, and has a growing footprint in the region. Along with its brewery and restaurant in Atwater Village east of Griffith Park, Golden Road is building an outpost in Anaheim near Angels Stadium, opening another at Grand Central market in downtown Los Angeles and has plans to open a pub at Los Angeles International Airport next year.
Under Anheuser-Busch, part of global beer giant AB InBev, Golden Road will have the potential to grow much more. In a statement announcing the deal, Golden Road co-founder Meg Gill said, “I see endless opportunities in partnering with Anheuser-Busch and their incredible distribution network to bring our beers to more people.”
The deal, expected to close by the end of the year, marks the latest acquisition of a craft brewery by a beer giant. Earlier this month, Anheuser-Busch competitor MillerCoors announced plans to acquire San Diego’s Saint Archer Brewing Co. In 2012, Alchemy & Science, an investment arm of Samuel Adams brewer Boston Beer Co., acquired downtown L.A.’s Angel City Brewery.
Craft breweries, which often eschew the light, pale lagers made by Budweiser, Miller and Coors, have been attractive targets for major brewing firms lately as the growth of craft beer sales continues to outpace the growth of beer sales overall. Last year, the overall beer market grew by a half-percent, while craft brewers saw their output climb 18 percent and their overall sales grow 19 percent, according to trade group Brewers Association.
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