MillerCoors is in line to be taken over by Molson Coors

MillerCoors is in line to be taken over by Molson Coors

MillerCoors has expanded its US craft beer portfolio with a majority stake in Georgia-based Terrapin Beer Co.

The deal, announced yesterday for an undisclosed fee, upgrades MillerCoors's minority interest in Terrapin purchased in early 2012. Terrapin will operate as a business unit of MillerCoors' craft beer arm, Tenth and Blake, and retain its staff and management.

Terrapin was founded in 2002 by Spike Buckowski and John Cochran. Its 84,000-square-foot brewery and 100-barrel brew house in Athens creates year-round and seasonal beers including Hopsecutioner, HI-5, RecreationAle and Rye Pale Ale.

"The team at Terrapin is so passionate and committed to brewing such terrific beers that we are thrilled to welcome them deeper into the Tenth and Blake family," said Scott Whitley, president & CEO of Tenth and Blake. "As owners, our job is to work collaboratively with their team to support their continued success with their innovative, award-winning beers that complement our portfolio perfectly."

MillerCoors, a JV between Molson Coors and SABMiller, has been less active in US craft brewer acquisitions than rival Anheuser-Busch InBev, preferring to rely on in-house brands such as Blue Moon. In September it took a majority holding in Saint Archer Brewing Co.

SABMiller's 58% stake in MillerCoors is set to go to Molson Coors once Anheuser-Busch InBev completes its takeover of the Miller beer owner. Late yesterday, US anti-trust authorities approved the deal.