Labatt buys Calgary craft beer company Banded Peak
CALGARY -- Banded Peak, one of Calgary’s destination taprooms along what has been dubbed the ‘Barley Belt,’ has been acquired by Labatt.
Labatt is part of Anheuser-Busch InBev, which also houses other global brands like Budweiser, Stella Artois, and Corona.
“It’s going to mean lots of growth,” said Alex Horner, head brewer and one of the three founders of Banded Peak.
"It was the dream you have in the back of your head but it's not something we ever though was possible."
Owners say the management team, beer formulas and taproom location off Dartmouth Road S.E. — along the Barely Belt — will remain in place as part of the sale.
However, the scale of Banded Peak’s productions is expected to dramatically increase.
Analysts of the beer industry say large beverage companies are increasingly interested in craft breweries as customer demands are shifting.
"The beer market is becoming much more fractured," said Don Tse, a freelance beer writer and host of the Alberta Beer Awards.
"Gone are the days, at least with young people, of somebody having a favourite beer. Everybody wants a new brand."
Labatt officials say the pace of growth in the Alberta market surpasses other regions in the country.
"We’ve definitely taken notice of the craft beer scene here in Alberta," said Rob Legate, head of craft for Labatt Breweries of Canada.
Financial details of the sale were not released.