Craft beer enthusiasts have rounded on Camden Town Brewery after the business announced it has been bought by Anheuser-Busch InBev, the world’s biggest beer company, reports The Telegraph.
Camden, which earlier this year raised more than £2.75m in crowdfunding, said that being acquired by Belgian-Brazilian owner of Budweiser and Stella Artois for an undisclosed sum would allow it to build a second brewery in London.
“Opportunities like this come rarely. We believe we must have the ambition to grab this opportunity and turn Camden Town Brewery, and the quality it stands for, from being an outstanding London brewer to being a world famous one,” founder Jasper Cuppaidge said in a statement.
But the deal immediately drew the ire of drinkers angry that the company had sold out to a corporate giant, and Camden was forced to deny claims by craft beer aficionados that the quality of its lager would be affected by the sale.
It also surprised industry insiders, with the deal coming less that three weeks after AB InBev revealed it was planning to sell Meantime, another craft brewer, which it acquired as part of its takeover of rival SABMiller.
Camden founder Jasper Cuppaidge took to Twitter to respond to criticism from fans that the brewer had now lost the support of loyal customers.
However, the backlash was such that James Watt, co-founder of Scottish brewery BrewDog, said he would no longer stock beers made by Camden’s drinks, which include Hells Lager and Camden Pale Ale, in its bars.
Corporate giants such as AB InBev have been caught off-guard by the growing popularity of craft beer in recent years and are scrambling to catch-up.
Craft beers are typically brewed by small, independent companies, and Camden was seen as one of the leaders of the brewing movement.
Mr Cuppaidge, owner of The Horseshoe pub in Hampstead, started Camden in 2010. It has grown rapidly and its beers are now sold in 1,000 pubs and bars across the UK and it employs 95 people in North London.
The company has sold more than 12 million pints this year and was forced to outsource some brewing to Belgium after sales jumped from £2.5m in 2012 to £9m last year.
The deal between Camden and AB InBev is expected to be completed by the first week of January.
By acquiring Camden, AB InBev is replacing one craft beer brand with another, which intrigued some industry obsevers. Earlier this year, SAB, the world’s second biggest brewer, bought Meantime in a similar attempt to tap into the craft brewing craze. However, SAB has since agreed to be acquired by AB InBev in a huge £71bn takeover dubbed MegaBrew.
To assuage worries that European competition regulators might have about the deal, AB InBev plans to sell Meantime, a similar brand to Camden, as well SAB’s Peroni and Grolsch brands.
