New Belgium Brewing Group Acquires SF’s Magnolia Brewing Company
A recently made announcement from a group led by New Belgium Brewing Company surprised the craft beer world. A group led by the Fort Collins local shared that they’d entered an agreement to purchase the assets of San Francisco’s iconic Magnolia Brewery as part of a bankruptcy proceeding. The newly formed partnership will be a majority-owned subsidiary of New Belgium. The minority partners in this deal are Dick Cantwell, Elysian‘s founder, and Oud Beersel, a Belgian lambic producer.
The partnership between the three will continue to operate both Magnolia locations with their existing staff and brands. Dick Cantwell will be leading brewing operations alongside Magnolia’s founder, Dave McLean. As a result of the partnership, Dave will become an employee of the newly acquired company. This is an exciting time for Dick, since it’ll be his first brewing gig after leaving Elysian in April 2015, after its acquisition by Anheuser-Busch InBev.
“I’m tremendously excited to be back in the beer business and looking forward to working with the team at Magnolia to develop new beers and new ideas,” said Cantwell. “This project is the natural evolution of a longstanding strategy of collaboration between myself, New Belgium and Oud Beersel.”
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New Belgium plans to align with a couple of venerable and long-standing brands as they exercise their experimental muscles on Magnolia’s two brewing systems. They also have plans to further venture into retail operations. New Belgium’s goal is to build an alliance that brings varied talent and experience to a combination of old and new. They emphasize the fact that they do not want to turn Magnolia’s Haight Street and Dogpatch locations into the parent company’s brewpubs. As they like to call it – “brewing with friends.”
Event as new beers are developed and introduced, it’s more than likely that much will remain unchanged in Magnolia’s tap lineup. Over time, the fruits of more patient labors begin to appear.
“We’ve been looking for ways to diversify our assets and expand our community,” said New Belgium co-founder and Executive Chair, Kim Jordan. “These two tap rooms are right in the heart of historic San Francisco neighborhoods, a place Dick (Cantwell) and I call home. Magnolia makes excellent beer and plays an important role in the community. We’re excited about the possibilities and look forward to continuing our journey while honoring Magnolia’s history and presence.”
Oud Beersel, a world renowned Belgian lambic producer, also joins the partnership as a contributing experimenter. The long-term goal of joining the partnership is to eventually ship containers of their traditionally produced and spontaneously fermented beers for blending with Magnolia’s beers. They’ve already made plans to install a coolship. It’ll be alongside wooden aging vessels for which both New Belgium and Oud Beersel are known for.
The beer must be produced in Belgium in order to be call it lambic. Did you know that? So, by shipping the lambic to San Francisco, the world’s first dedicated lambic blendery outside of Belgium will be established.
This project continues New Belgium’s blending work as embodied in Transatlantique Kriek. If you’re not familiar with it, it’s a beer produced over several years with Oud Beersel and Brouwerij Boon. The lambic was shipped over from Belgium specifically for blending with New Belgium’s wood-aged beers. New Belgium is also likely to ship beer over to San Francisco for blending from its Fort Collins brewery. The transaction, which is still subject to customary closing conditions, is expected to close in September.
A Little History About Magnolia Brewing
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Dave McLean established this San Francisco local in 1997. It’s located at the corner of Haight and Masonic in the world famous Haight-Ashbury district. It’s been a neighborhood favorite since then, filled by both locals and tourists. They serving artisanal pub food and producing a mainly English-style lineup of beers. The cool part? They brewed in their own basement! Magnolia has produced an array award-winning beers, headlined by their two top sellers: Proving Ground IPA and Kalifornia Kolsh. Starting February 2017, both have been distributed in cans.
In 2014, Magnolia opened Smokestack, a barbecue restaurant attached to a 30-barrel production brewery in the Dogpatch neighborhood of the city. Unfortunately, this was when Magnolia encountered financial difficulties in 2015. This was a result of construction delays with Smokestack and slower than anticipated development in the neighborhood. Unfortunately, this led the company to file for Chapter 11 bankruptcy protection back in November 2015.
“Magnolia has had quite a journey in San Francisco for nearly two decades, including some very challenging and difficult times in recent years,” said founder and brewmaster Dave McLean. “I’m incredibly grateful for this opportunity to see Magnolia start a new chapter and to be working with New Belgium, Dick Cantwell and Oud Beersel to preserve what we all love about Magnolia while embarking on some exciting new craft beer adventures together.”
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