Cape May Brewing has acquired US peer Flying Fish Brewing for an undisclosed sum.
Describing the deal as a “strategic investment”, Cape May will acquire all assets of Flying Fish, including its tasting room in Somerdale, New Jersey.
Founded in 2011, Cape May, which is also based in New Jersey, said it will be able to boost annual production capacity, increase manufacturing space and further expand the brewery’s product portfolio.
“This is a massive milestone for both Cape May and Flying Fish, who we’ve long admired as a true pioneer of craft brewing in the Garden State since its founding in 1995,” Cape May CEO and co-founder Ryan Krill said.
“We are thrilled to expand our product portfolio and are approaching this acquisition with a focus on our core values, passion for brewing, and commitment to serving our customers with the highest quality brews.”
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Cape May will continue to operate its existing New Jersey locations and distribute to Pennsylvania and Delaware. Flying Fish will continue to be distributed by its wholesalers.
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By GlobalDataKrill’s brewery offers its flagship products like Cape May IPA, Hard Iced Tea, seltzers and more in its 32,000 square feet tasting room.
“We are excited for these new opportunities and grateful for the teams and fans of both brands who have supported the New Jersey craft beer community over the years,” he added.
“This may be a brand-new chapter in our company history, but it’s one that is rooted in the same values that have driven our commitment to quality, people, and refreshing brews since our founding in 2011.”
In a report from the Brewers Association in April, US craft beer was shown to remain static in 2022, with growth for the category described as “hard to come by”.
In 2022, small and independent brewers produced 24.3m barrels of beer, compared to 24.8m in 2021, according to trade association the Brewers Association (BA).
Craft beer’s overall market share by volume grew 0.1 percentage points to 13.2% compared to the previous year.
