2023-08-08 09:20:08 ET
Molson Coors Beverage Company ( NYSE: TAP ) announced on Tuesday that it struck a deal to acquire bourbon and rye whiskies maker Blue Run Spirits for an undisclosed amount.
The deal was said to represent another step in Molson Coors’ evolution as a total beverage company while providing Blue Run with resources to continue its growth.
Based in Georgetown, Kentucky, award-winning Blue Run is noted to be one of the whiskey industry’s most compelling new entrants since the brand’s launch in October of 2020.
As Molson Coors’ ( TAP ) first spirits acquisition, the addition of Blue Run boosts the company’s footprint in spirits as it continues to evolve from being strictly a beer company and looks to premiumize its portfolio.
"Blue Run has accomplished in three years what many brands hope to do in a generation and has done it at the luxury end of the whiskey category. Importantly, we are committed to maintaining Blue Run’s well-known quality, design and innovation as we continue to grow our spirits portfolio."
Blue Run products are currently available in 31 states. The company will continue with its plans to build a distillery in Kentucky. In addition, Blue Run has three new whiskies slated for late summer/fall release to add to the TAP spirits business.
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Molson Coors makes big whiskey play with acquisition of Blue Run Spirits