THE GIST
According to Brewbound, Carib Brewery of Trinidad and Tobago has acquired the Florida Brewing Company of Cape Canaveral, which was established in 1996 and produces about 35,000 barrels annually. Florida’s third largest brewery joins the Carib portfolio, which produces more than one million barrels annually, for an undisclosed sum.
WHY IT MATTERS
In the wake of the AB-InBev merger ruling from the DOJ, and multiple brewery acquisitions by MillerCoors, this deal seems to have flown under the radar. While its impact on the U.S. market might not be as significant as those other deals, it could be the sign of further increasing outside interest in the U.S. craft beer market from foreign businesses. Duvel buying Firestone Walker and Boulevard, San Miguel buying in to Founders, and Asahi reportedly seeking a deal are all signs that the American craft beer movement won't stay strictly American in the long-term.
For Carib, this is a direct route into the lucrative U.S. beer market, and a relatively soft one in Florida with plenty of growth potential. It will be interesting to see if they focus on investing in improvements and expansion at Florida Brewing, begin to focus on exporting the Florida Brewing brand to rapidly growing South American markets, or use it as a distribution point for its existing portfolio.
Carib is also a producer of Heineken and Guinness brands in their home market, showing a clear track record of brewing and selling foreign brands at home.
— Matthew Curtis
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Florida Beer Company Sold – Via Brewbound