An upstart company with an eye on craft breweries announced Thursday its acquisition of Aspen Brewing Co., which was founded in 2008.
Legacy Breweries, whose CEO and founder Don Bryant lives in Evergreen, has bought all of Aspen Brewing Co.’s assets and its name, as well its downtown taphouse and its production facility at the Aspen Business Center.
Aspen Brewing Co. founder Duncan Clauss will continue to run the local operations under Legacy Breweries, Clauss and Bryant said. During an interview at Aspen Tap, the Aspen Brewing Co.’s pub at the corner of Galena Street and Hopkins Avenue, the two declined to reveal the purchase price.
Legacy’s purchase of Aspen Brewing will give it a presence in Colorado and follows its acquisition last year of a majority of Eugene, Oregon-based Ninkasi Brewing, which, according to brewbound.com, shipped 90,000 barrels in 2018, making it the 35th largest craft brewery that year in the U.S.
By contrast, Aspen Brewing makes about 4,000 to 4,500 barrels a year. Bryant said the goal is to more than double that volume to 10,000 barrels within the next two years.
Legacy and Aspen Brewing began talks earlier this year. Clauss said joining forces with Legacy gives Aspen Brewing more resources and the ability to stay competitive in a saturated industry.
“We’ll expand our sales team and marketing team,” Clauss said, adding Aspen Brewing will “finally have support and resources and people to collaborate with in terms of sales and marketing, and we’ll continue to focus on Colorado.”
An April report generated by Boulder-based Brewers Association, which represents craft brewers, said and independent brewers collectively produced 25.9 million barrels and realized 4 percent total growth.
“We thought if we just provide the capital and support to all the things that Duncan’s wanted to do, then this should be a great partnership,” Bryant said of Legacy’s interest in the company.