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Oskar Blues, Fireman Capital Purchase Cigar City Brewing

Oskar Blues Cigar City Fireman Capital

Fresh from a rollicking weekend at Hunahpu's Day 2016, Cigar City Brewing has some big news on the way. Oskar Blues Brewery, along with its private equity financial partner Fireman Capital, have announced the purchase of the Tampa-based brewery.

The financial details have not been disclosed, but the combination of Oskar Blues, Cigar City and Perrin Brewing (which was acquired by Oskar Blues this time last year) will make for a large, nationwide distribution network of beloved beers.

According to a release from Oskar Blues, "Cigar City is facing next-level challenges and we needed to develop next-level skills and resources to meet them. But, we got into beer out of passion and an unwavering desire to travel our own path. We didn't want to just shove our round peg into some f*cking square hole and hope for the best. Florida craft beer drinkers want something they can proudly stand behind. These guys get that. They wrote the book on keeping it real," says Joey Redner, founder of Cigar City Brewing. Joey will remain as CEO of Cigar City following the transaction.

This is a developing story, so please check back for updates.

Here is the full release from Oskar Blues:

Longmont, CO, & Tampa Bay, FL – Oskar Blues Brewery announced the acquisition of Tampa's Cigar City Brewing. Putting months of acquirement rumors to rest, the decision is driven by mutual irreverence, respect and desire to stay true to craft beer roots.

The combination stems from the want to take risks, sniff out bullsh*t and grow against-the-grain in an era of increasing competition within craft beer. The collaboration will match the years of large-scale growth, expansion expertise and resources of Oskar Blues with the strength of Cigar City's local following to help both breweries strengthen their future position. Similarly to Oskar Blues, Cigar City's award-winning brews are well known and respected within the craft community.

"Cigar City is facing next-level challenges and we needed to develop next-level skills and resources to meet them. But, we got into beer out of passion and an unwavering desire to travel our own path. We didn't want to just shove our round peg into some f*cking square hole and hope for the best. Florida craft beer drinkers want something they can proudly stand behind. These guys get that. They wrote the book on keeping it real," says Joey, founder of Cigar City Brewing.  Joey will remain as CEO of Cigar City following the transaction.

Since 2009, Cigar City Brewing has achieved a near constant growth pattern reaching nearly 60,000 barrels in 2015, placing the Tampa Bay area and the state of Florida on the craft beer map. The partnership will provide additional investment for Cigar City's infrastructure growth within Florida. 

"What Cigar City has done for the community of Florida craft beer is impressive.  It's important for our culture to do business with people we want to hang out with and Joey and the gang fit," Dale Katechis, Soul Founder of Oskar Blues, stated about the new partnership.

Oskar Blues Brewery is the funky brewpub that started brewing beer in 1999 in the small town of Lyons, CO and is responsible for starting the craft beer-in-a-can movement in 2002 with Dale's Pale Ale. In 2008, the brewery expanded down the street to Longmont, CO. and added an additional brewery in Brevard, NC in 2012. Oskar Blues brewed 192,000 barrels in 2015 and announced another brewery in Austin, TX scheduled to open in May of 2016.   

Terms of the acquisition are not disclosed.

Comments

DrGMG's picture
Not sure how to feel about this.

Comments

DrGMG's picture
Not sure how to feel about this.

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