The Minnesota brewer, August Schell Brewing Co., has announced that it has acquired the Grain Belt beer brand from the bankrupt Minnesota Brewing Company.

Ted Marti, president of Schell, said that the company had submitted the winning bid for the brand. "Tentatively we have it. We got the deal," Marti said two hours after hearing the news from the receiver selling off Minnesota Brewing's assets. Grain Belt Premium was the prize brand in the Minnesota Brewing portfolio. The financial details of the deal were not disclosed.