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.
More Must-Reads From TIME
- Meet the 2024 Women of the Year
- Greta Gerwig's Next Big Swing
- East Palestine, One Year After Train Derailment
- The Closers: 18 People Working to End the Racial Wealth Gap
- Long COVID Doesn’t Always Look Like You Think It Does
- Column: The New Antisemitism
- The Best Romantic Comedies to Watch on Netflix
- Want Weekly Recs on What to Watch, Read, and More? Sign Up for Worth Your Time
Contact us at firstname.lastname@example.org