Firestone Walker Brewing Company’s founders and proprietors Adam Firestone and David Walker stunned the craft beer world July 16 by announcing a collaboration with another family-owned — albeit larger — brewing empire, Belgium-based Duvel Moortgat.
In a news release, the Paso Robles-based Firestone and Walker assured the public and craft beer aficionados that “our people and partnerships will remain, and there will be no change discernable in and around the brewery.”
Duvel, founded in 1871, has kept “a singular focus on quality … (and) this is a universal language we understand,” Firestone and Walker noted in the release. “There is a clear respect and reverence for the art of work of brewers that aligns with our values and plans for the future.”
“Like all things it will take time, but we can now rest knowing Paso remains our home for the foreseeable future,” Walker said Tuesday morning in an email.
“In terms of the transaction, it’s complicated, but I can confirm our friends from Duvel are strapped to us as we are to them. It’s a significant leap of faith for both families,” he wrote.
When questioned about a possible production increase, Christopher Weir, publicist for Firestone Walker, emailed that “there will be no sudden rise in production. Growth has been steady and will continue to be.”
Regarding the partnership, Weir quoted Walker: “It’s complicated and private. This is primarily an investment to help us build out Paso without being wed to bankers. It is also an opportunity for us to link ourselves with a 150-year-old partner with the same family and craft values we have.”
As both Duvel and Firestone Walker are privately owned, no financial details were made public. However, Beer Marketer’s Insight listed the deal somewhere near $250 million, and called Firestone Walker the 16th largest craft brewer in the United States, distributing more than 200,000 barrels last year.
Sources are describing the partnership as a long-term alliance that will combine, but not integrate, the operations of both breweries, and Firestone Walker will continue operating independently under the direction of Firestone and Walker.
While production for the 20-year-old Firestone Walker Brewing Co. began on McMurray Road in Buellton, brewery operations were relocated to Paso Robles some years back.
The original Buellton location houses a popular taproom, restaurant and retail center, as does the Paso Robles brewing campus, located on Ramada Drive adjacent to Highway 101.
The company’s website details plans for a third taproom restaurant, pilot brewhouse and craft beer hub on Washington Boulevard in Venice. The company acquired the property several years ago.
— Laurie Jervis blogs about wine at www.centralcoastwinepress.com, tweets at @lauriejervis and can be reached via winecountrywriter@gmail.com. The opinions expressed are her own.