Anheuser-Busch InBev, the world’s largest beer maker, announced Wednesday that it will acquire the Long Island-based Blue Point Brewing Company.
The deal will position the maker of such popular beers as Budweiser and Corona to take advantage of the booming market for craft beers like Blue Point’s flagship Toasted Lager, while exposing Blue Point to a much larger consumer base.
“Together, our talented brewing team and Anheuser-Busch will have the resources to create new and exciting beers and share our portfolio with even more beer lovers,” Mark Burford, a co-founder of Blue Point, said in a statement.
The financial details of the deal have not yet been disclosed.
[NYT]
Sign up for Inside TIME. Be the first to see the new cover of TIME and get our most compelling stories delivered straight to your inbox.
