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The action which has been described as merger is actually an acquisition of Bear Republic’s brands, recipes, sales and distribution. Bear Republic will still own its brewery assets in Cloverdale, California.
Here’s the deal…
This deal was described by The Mercury News as a merger…
“Rich and Tami Norgrove, owners of Cloverdale’s Bear Republic Brewing, are joining forces with John Martin and Roy Kirkorian of Drake’s Brewing. They will be jointly announcing the sale and purchase of certain assets of Bear Republic to Artisan Brewers LLC — Drake’s business name — later today.”
“Drake’s will acquire all of Bear Republic’s recipes, formulas and intellectual property, and Drake’s will produce the full Bear Republic lineup of beers — including the iconic Racer 5 IPA — as well as their other brands and new beers still in the pipeline with a goal of bringing Bear Republic Brewing into new markets and communities.”
“We have always admired Drake’s Brewing Company’s passion for craft beer and their community as well as their commitment to quality,” Norgrove said. “Joining forces with Drake’s will allow us to bring our beers to even more customers, and we’re excited to be a part of the Drake’s family.”
But in an internal email provided to the Full Pint, it sounds very much like an acquisition…
Drake’s Team!
We are writing today to announce some exciting news. Our company has agreed to acquire the brands of the well-known and greatly respected, Bear Republic Brewing Company. This acquisition includes the brands only and does not include the brewery itself.
This acquisition represents a significant step forward in our company’s future growth and our mission to bring people together over craft beer. With the addition of the Bear Republic brands, including the iconic Racer 5 IPA, their other recipes, and the brand’s wide recognition, we are now better positioned to achieve that goal.
We understand that changes like this can be concerning, but we want to assure all of you that our commitment to maintaining the high standards of quality and creativity that you have come to expect from our brewery remains unchanged. The Production & Sales teams are working diligently to integrate the acquired brands in a way that builds on our strengths and creates new opportunities for growth.
We also want to acknowledge the many years of hard work and dedication of our good friends the Norgrove family and their employees at Bear Republic. Their contributions to the craft beer industry have been vast, and we look forward to honoring their legacy and continue to build upon it in the future. Rich Norgrove will become a team member in the Drake’s organization.
As we move forward, we are confident that we will be able to successfully integrate the Bear Republic brands into our facilities and deliver even more delicious and innovative beers to customers to California and beyond.
You may receive calls or inquiries from the media, if you do, please direct them to email their questions to [email protected].
Thank you all for your continued commitment to Drake’s and the craft beer industry!
Regards, John & Roy
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We expect more details on this historic deal later today…
