New Belgium Teams up To Buy California’s Magnolia Brewing out of Bankruptcy – Colorado News

New Belgium Teams up To Buy California’s Magnolia Brewing out of Bankruptcy – Colorado News

There’s no bigger power couple in craft brewing than Kim Jordan and Dick Cantwell. Jordan co-founded New Belgium Brewing, the nation’s fourth-largest craft brewery, and is now the executive chairwoman. Cantwell helped start Elysian Brewing in Seattle in 1995 before selling it to Anheuser-Busch InBev in 2015; he left just three months later, saying he had opposed the sale and that as a craft brewer, he just couldn’t stay.

Now Jordan and Cantwell are teaming up to take control of Magnolia Brewing, a respected English-style brewpub with two locations in San Francisco, where the two live part-time. Magnolia filed for bankruptcy in 2015 but has continued to operate. On Thursday, Cantwell and New Belgium, along with Belgian lambic producer Oud Beersel, announced that they have purchased Magnolia’s assets out of bankruptcy. The newly formed partnership will be a majority-owned subsidiary of New Belgium, with Cantwell and Oud Beersel as minority partners.

“The partnership will continue to operate both Magnolia locations with existing staff and brands,” New Belgium says. “Cantwell will head up brewing operations, working alongside Magnolia founder Dave McLean, who will be an employee of the partnership. It will be Dick’s first brewing gig since leaving Elysian.”

And the goal isn’t to turn Magnolia’s two locations into New Belgium brewpubs, but to create something new. “It is likely that much will seem unchanged in Magnolia’s tap lineup, even as new beers are developed and introduced.”

Kim Jordan makes up half of a craft-brewing power rcouple.

New Belgium Brewing

The purchase is yet another way that independent craft brewers have come up with to try to keep each other…

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