Revolver was purchased by MillerCoors' craft division Tenth and Blake Beer Company, which now maintains a majority ownership of the craft brewer, according to an announcement Thursday.
The brewery's owners, father-son duo Ron and Rhett Keisler, and head brewer/partner Grant Wood will remain in place. Further terms of the deal, which is expected to close in the third quarter of this year, were not disclosed.
"It's going to be business as usual, only more so," Wood tells GuideLive. "We're going to continue to do our best to bring you some interesting new beers and deliver the ones we had before with quality."
Opened in 2012 in Granbury, Revolver quickly gained local recognition for its flagship Blood and Honey wheat ale, which lured many local drinkers into the craft scene. (Samuel Adams creator Jim Koch has called it "damn good beer.") The new partnership will afford Revolver the opportunity to expand its footprint in the state. The brewery currently distributes beers to the greater Dallas-Fort Worth area, as well as Austin, Waco and College Station. Wood hopes to reach Houston and San Antonio next.
According to Kirby Nardo, spokesperson for MillerCoors, Revolver was an attractive partner due to its local reputation.
"Revolver has an extremely strong, highly-recognizable flagship brand in Blood & Honey and huge growth potential in the overall portfolio which will complement Tenth and Blake's brands," Nardo said by email. "The partnership gives Tenth and Blake a strong strategic partner in the rapidly growing Texas craft beer market."
Last year was something of banner year for beer mergers and acquisitions. Trade pub Brewbound counted 24 craft transactions in the U.S., including the $1 billion purchase of San Diego's Ballast Point Brewing Co. by Constellation Brands. Scott Metzger, founder and CEO of Freetail Brewing Co., told GuideLive earlier this year that big conglomerates are realizing consumers' value in "drinking local" and are looking to bring on craft brands that have a foothold at that ground level.
That certainly seems to be the case with Revolver and Tenth and Blake. Revolver is currently producing about 25,000 barrels annually and has a strong local following. In recent months, MillerCoors has added other craft operations to its portfolio, including Terrapin Beer Co. in Georgia and Hop Valley Brewing Co. in Oregon.
Many craft drinkers will inevitably see this as "another one bites the dust" scenario. Wood, however, watched the mergers and acquisitions last year with a more open mind, as Revolver entered discussions with MillerCoors in late 2015.
"Everybody's business is different and their desires for their business are different," he says. "It's a business choice and I think this was the best choice for us."
Editor's note: This story has been updated to correct Revolver's annual production.