Anheuser-Busch Buys Virginia Beer Company

Anheuser-Busch has announced an agreement to acquire Virginia-based Devils Backbone Brewing Company.

Anheuser-Busch issued a statement regarding the new partnership on Tuesday.

Steve Crandall, co-founder and CEO of Devils Backbone Brewing Company, says in the statement that Devils Backbone will "retain a high level of autonomy," and that the "existing management team plans to stay on board for many years."

Gov. Terry McAuliffe says in the statement that through Anheuser-Busch's network of distributors, Devils Backbone will soon be available nationwide.

Candrall founded Devils Backbone in 2008 after a trip to Europe inspired him to open the brewery. In 2014, Devils Backbone became Virginia's highest volume craft beer producer when it opened its Outpost facility in Rockbridge County.

Anheuser-Busch has been expanding their craft beer division. The company owns the brand Goose Island and in December acquired a Colorado craft beer company, Breckenridge Brewery.

Anheuser-Busch's partnership with Devils Backbone is expected to close in the second quarter.

Copyright AP - Associated Press
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