Keystone Brewing Group has added Magic Rock and Fourpure to its growing roster of craft beer brands.
The private-equity backed brewing unit announced today (30 January) it had struck a deal to “secure the future” of the two brands. They join a portfolio that includes Black Sheep, Purity, Big Drop, Brick, Brew by Numbers, Wolf Pack, and cider brand Maison Sassy.
The terms of the deal with brand owners In Good Company (IGC) were not disclosed – Keystone said only that IGC had “fallen into financial difficulties” in recent months.
Fourpure was placed into administration in October, with Magic Rock filing notice of intent to appoint administrators earlier this month.
Keystone had discussed acquiring Fourpure with ICG prior to its administration before pulling out of the deal, The Grocer revealed in November.
Fourpure’s London brewing site was shuttered in August, and Magic Rock’s production facility and taproom in Huddersfield had now also closed, Keystone CEO Mark Williams confirmed.
Beers from both brands are now expected to be produced at one of Keystone’s breweries in Yorkshire and Warwickshire.
“Keystone Brewing Group has secured an exclusive licence with the brand owners to take these fantastic brands forward in the UK and worldwide,” said Williams. “The Magic Rock brewery has unfortunately closed, and we are naturally saddened at the loss of the Magic Rock site, and the employees and their families directly affected by this. The Magic Rock brewery had already ceased brewing due to cash issues, several weeks prior to agreeing the deal today, as such there was no viable business left.”
Keystone had “managed to save two iconic beer brands for future generations of beer lovers,” Williams added.
The Keystone boss told The Grocer last year it intended to build a craft beer portfolio with combined annual revenues of £100m.
The future of In Good Company, which acquired Magic Rock and Fourpure from Lion in 2022, remains unclear.
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