Anheuser-Busch InBev to buy Devils Backbone Brewing Co

Anheuser-Busch InBev NV yesterday struck a deal to buy US-based Devils Backbone Brewing Co., in order to boost its craft and import brands portfolio.

Financial terms of the deal were not disclosed, but Anheuser-Busch said that the transaction is expected to close in the second quarter.

In 2008, founders Steve and Heidi Crandall launched Devils Backbone Brewing Company in the Virginia Heartland, after being inspired by a ski trip to northern Italy in 1991 where they had their first taste of Germanic style beer.

Devils Backbone operates two breweries in central Virginia, Basecamp Brewpub & Meadows, and the Outpost Brewery & Tap Room, a state-of-the-art production brewery.

Devils Backbone's portfolio includes flagship Vienna Lager, Eight Point IPA and Schwartz Bier.

These brands will join with AB InBev's High End unit, which includes Four Peaks Brewing Co., Goose Island Beer Co., Blue Point Brewing Co., 10 Barrel Brewing, Elysian Brewing Co. and Golden Road Brewing.

''I am extremely pleased to announce the partnership of Devils Backbone Brewing Company with Anheuser-Busch. While we are joining a creative group of craft breweries in the division, Devils Backbone will retain a high level of autonomy and continue its own authentic DNA within The High End framework,'' said Steve Crandall, co-founder and CEO of Devils Backbone Brewing Company.

The purchase comes in the midst of AB InBev struggling to gain regulatory approval for its proposed $104.2 billion takeover of rival brewer SABMiller Plc.