Terrapin Beer Company

Terrapin Beer Company
Industry Alcoholic beverage
Founded 2002
Founder Brian "Spike" Buckowski and John Cochran
Headquarters Athens, GA, USA
Products Beer
Owner MillerCoors

Terrapin Beer Company is a brewery founded in 2002 by Brian "Spike" Buckowski and John Cochran in Athens, Georgia, USA. In July 2016, MillerCoors announced its majority stake in Terrapin, ending its status as a craft brewery.[1]

History

Founders John Cochran, a 1993 University of Georgia graduate, and Brian "Spike" Buckowski a 1996 American Brewers Guild (California) graduate - met in 1998 while working at Atlanta Brewing Company.[2] Both men had been home brewing for years, and decided to partner with each other to start a craft brewing company in Athens, Georgia. Buckowski, a Grateful Dead fan, named the brewery after his favorite Grateful Dead album Terrapin Station. After creating a business plan, Buckowski and Cochran spent three unsuccessful years pitching investors to fund their startup costs for the Terrapin Brewing Company. In April 2002, they created and introduced Terrapin's Rye Pale Ale at the Classic City Brew Fest in Athens, Georgia - which quickly garnered praise by craft beer aficionados across the U.S.[3] In October 2002, their Rye Pale Ale was awarded the American Pale Ale Gold Medal at the Great American Beer Festival in Denver, Colorado - which helped garner Terrapin distribution opportunities across Atlanta. Terrapin began contract brewing with several breweries to produce their beer including; Frederick Brewing Company (now Flying Dog Brewery) in Frederick, Maryland, and Zuma Brewing Company in Atlanta, Georgia.[4]

In 2006, Terrapin obtained an $800,000 investment from a pool of Athens' investors, which allowed them to buy brewing equipment and lease a small facility in Athens, Georgia where they began producing their own beer. In 2008, the brewery moved to a larger 45,000 square-foot facility at 265 Newton Bridge Road,[5] Athens, Georgia, where it could produce up to 18,500 barrels per year.[6] Terrapin Brewing Company offers tastings and tours and averages 30,000 visitors per year.[7]

Beers

Year Round Beers

Seasonal Sessions

Monster Beer Tour

Ownership

In 2011, Terrapin Beer Co. sold a minority interest of less than 25% to Miller Coors craft and import division Tenth and Blake Beer Company[8] The minority ownership was given in exchange for reducing a loan made by Tenth and Blake Beer Company in December 2010 to buy out a group of Terrapin investors.

However, according to a 2013 interview with co-founder John Cochran, Terrapin Beer Co. the financing agreement between Tenth and Blake Beer Company and Terrapin Beer Co did not include equity. Co-founders Cochran and Buckowski currently own more of the company than they had prior to the Tenth and Blake deal, and Terrapin Beer Co. remains an independent brewery.

On July 20, 2016, MillerCoors announced they had taken a majority interest in Terrapin Beer Co. through their Tenth and Blake Beer Company division. The transaction is expected to be complete in August 2016.

References

  1. ↑ "Craft Brewer Defined: An American craft brewer is small, independent and traditional.". Brewers Association. Retrieved 26 July 2016.
  2. ↑ "Terrapin takes next step as it opens own brewery Posted: Sunday, February 10, 2008". Athens Banner-Herald. 10 February 2008. Retrieved 20 April 2013.
  3. ↑ Townsend, Bob (13 April 2012). "Atlanta's craft beer scene is booming". AccessAtlanta. Retrieved 20 April 2013.
  4. ↑ Cochran, John. "4 Steps to Opening Your Own Craft Brewery (or the History of Terrapin Beer)". CraftBeer.com. Retrieved 20 April 2013.
  5. ↑ Ogletree, Owen. "Terrapin Brewery Becomes Reality". Classic City Brew. Retrieved 20 April 2013.
  6. ↑ Gallant, Andre (8 April 2012). "At 10, Terrapin ready for growth spurt". Athens Banner-Herald. Retrieved 20 April 2013.
  7. ↑ "Terrapin takes next step as it opens own brewery Posted: Sunday, February 10, 2008". Athens Banner-Herald. 10 February 2008. Retrieved 20 April 2013.
  8. ↑ Nelson, Don. "Terrapin brewery selling minority interest to Miller Coors' craft beer division". Athens Banner-Herald | OnlineAthens. Retrieved 20 April 2013.

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