Anheuser-Busch plans to acquire Devils Backbone
St. Louis-based Anheuser-Busch announced Tuesday it plans to acquire Nelson County-based Devils Backbone. Financial terms of the deal were not disclosed.
Anheuser-Busch, the maker of Budweiser and Bud Light, is the largest brewer in the U.S. in terms of overall sales, according to the latest available data from the Brewers Association. The company operates 17 local breweries.
Devils Backbone will join Anheuser-Busch’s “high end,” line of breweries, which include brands such as Stella Artois, Shock Top and Goose Island. The deal is expected to close in the second quarter.
“While we are joining a creative group of craft breweries in the division, Devils Backbone will retain a high level of autonomy and continue its own authentic DNA within The High End framework,” Steve Crandall, co-founder and CEO of Devils Backbone, said in a statement. “The existing management team plans to stay on board for many years, while continuing to innovate and bring locally crafted Virginia beer to the nation.”
Devils Backbone opened in 2008. Originally projected to produce 10,000 barrels of beer in its first 10 years, the company produced almost 45,000 barrels in its first three years.
The company operates the Outpost Brewery & Taproom in Lexington and Basecamp Brewpub & Meadows in Roseland, which primarily serves as a visitor destination. Last year, the outpost produced 62,500 barrels of beer.