NEW BEL­GIUM RES­CUES MAG­NO­LIA BREW­ING

The Denver Post - - BUSINESS - — Ta­mara Chuang, The Den­ver Post

New Bel­gium Brew­ing Co. res­cued San Fran­cisco’s Mag­no­lia Brew­ing out of bank­ruptcy in a $2.7 mil­lion deal that will turn the West Coast beer brand into a New Bel­gium sub­sidiary.

There are no plans to mix the brands or turn the Mag­no­lia Brew­ing’s two San Fran­cisco lo­ca­tions into New Bel­gium brew­pubs. Mag­no­lia’s staff also will re­main.

Fort Collins-based New Bel­gium wanted to di­ver­sify and ex­pand its com­mu­nity. This will be treated more like a “Brew­ing with Friends,” said Kim Jor­dan, New Bel­gium co-founder and ex­ec­u­tive chair.

The sub­sidiary will be owned by a part­ner­ship ma­jor­ity owned by New Bel­gium. The sale is ex­pected to be com­pleted in Septem­ber.

Mi­nor­ity part­ners in­clude Bel­gium brew­ery Oud Beersel and Dick Cantwell, founder of Elysian Brew­ing Co. Cantwell, whose com­pany was sold to An­heuser-Busch InBev in 2015, will head up Mag­no­lia’s brew­ing op­er­a­tions. Mag­no­lia founder Dave McLean will be an em­ployee of the new part­ner­ship.

Oud Beersel al­ready ships beer from Bel­gium to Fort Collins and helped the brew­ery cre­ate the Transat­lan­tique Kriek brew.

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