You saw the headline, so whip out those black armbands. Beloved local brewer Boulevard Brewing is taking the money and running.
Hey, it’s the way of the world.
“As European interest in American craft beers begins to mirror the mania for them stateside, the Duvel Moortgat Brewery of Belgium on Thursday announced a deal to buy the Boulevard Brewing Company, a craft brewery in Kansas City, Mo.” the New York Times is reporting. “The acquisition of Boulevard will give Duvel, pronounced DOO-vel, ownership of a large United States craft brewer that is well known in the Midwest and produces a wide variety of beers under its own name and others. Boulevard’s brands range from 80-Acre Hoppy Wheat Beer, described as citrusy with a slightly sweet flavor and light bitterness, to Dark Truth Stout, an “inky” beer with hints of chocolate, coffee and fruits.”
“Boulevard, the 12th-largest craft brewer in the United States, has distribution approaching 180,000 barrels this year,” the Times continues. “The acquisition will give it access to wider distribution in the domestic market and an avenue into international markets using Duvel’s worldwide system.”
“John McDonald, Boulevard’s founder and owner, said he had been pondering an exit strategy for the last few years,” the Times reports. “I talked to several other breweries and different types of financial institutions that might be interested in partnering with us, and about three months ago, I decided to go talk to Duvel,” said Mr. McDonald, who recently turned 60.
“He said he liked the way his company could mesh with the Belgian brewery and the cultural alignment between the two businesses. “I was looking to give up control of my brewery, and to do that, I had to feel really good about the people I would be giving control to,” Mr. McDonald said.”
The rumor earlier this week was that Miller-Coors would be doing the buyout honors.
But fear not, craft beer lovers it was not to be.