Smuttynose parent company Finestkind Brewing has acquired Wachusett Brewing in a deal that will unite two New England legacy craft beer brands. Smuttynose will eventually produce Wachusett beers at its Hampton, New Hampshire-based facility. Sixty Wachusett employees will join Finestkind, including the company’s hospitality team. About 90% of all Wachusett employees will be retained. The deal includes Wachusett’s Westminster, Massachusetts-based facility and equipment, as well as the brand and intellectual property. Finestkind CEO Steve Kierstead said in a press release: “This acquisition is a strategic step in our market expansion. Wachusett’s strong market presence and additional 15,000 [barrels] notably increase our total annual volume to over 50,000 [barrels], marking a new chapter in our growth story.” For roughly the first two months, both brands will be produced at scale in their respective breweries. A spokesperson told Brewbound: “The ultimate plan is to have a smaller brew system at the Wachusett facility for R&D, while larger volume commercial production will take place in New Hampshire.” This is the second acquisition Smuttynose has made in recent months. In November, it acquired Brooklyn, New York-based Five Boroughs Brewing, and at the time Kierstead told Brewbound Smuttynose had “a large appetite for more M&A.” Both breweries were founded in 1994 and will turn 30 this year. Co-founders Ned LaFortune, Peter Quinn and Kevin Buckler started brewing what would become Wachusett beers on LaFortune’s family farm. Insiders can read more about Wachusett's production output and recent investment history. |