Pyramid Brewery To Be Acquired by Magic Hat

The big news today in the brewing world is that northwest staple Pyramid Brewing will be bought by a Burlington, VT brewery. The deal should not have much of an effect on the consumer here in Seattle, but we will hopefully start getting Magic Hat brews sometime soon.

Magic Hat #9 has been a popular pale ale in the Northeast for quite a few years, and it would be a welcome addition to the Seattle market, along with the rest of their lineup. Pyramid will be keeping their offices in Seattle.

From this morning's press release:

"The combination of these two well-established, high profile craft breweries will be very complementary given our respective brand portfolios and the geographies in which we predominantly operate. Additionally, there will be a number of important benefits for Pyramid to be part of a private company versus continuing to operate as a stand alone public entity. This consolidation makes both good strategic and financial sense and is well timed, particularly as the beer industry's competitive dynamics continue to intensify," said Pyramid CEO Scott Barnum. "The Company will continue to have offices in Seattle, its historical home, and will seek opportunities to capitalize on the enhanced assets and capabilities of the new combined entity," he added.

Martin Kelly, CEO of Magic Hat said, "We have a great deal of respect for Pyramid's brand heritage, award-winning beers and its dedicated employees, and look forward to consummating this transaction, which provides both strategic and financial benefits both to Pyramid's and Magic Hat's stakeholders."