DETROIT (FOX 2) - Atwater Brewery is coming back to Detroit.
Well, it actually never physically left the city, but it was sold to a division of Molson Coors in 2020 by Mark Rieth, who had owned the business since 2005. On Thursday, Reith announced that he is reacquiring Atwater from Tilray Brands, which had acquired the brand three years after the sale to Molson.
What they're saying:
"Getting Atwater back under my control is something I’ve wanted to do almost since the day I sold it," Rieth said. "Yes, it’s a lot, but it fits naturally with everything else I’m building. And I’ll be looking for strategic partnerships to accelerate current opportunities and identify new ones."
After selling Atwater, Rieth retained ownership of the brewery building in Detroit and leased it to the new owners. Now, the building, brand, equipment, and intellectual property will all be under this control,
"My heart has always been with Atwater, and I’m thrilled to have the brewery back in my hands," said Rieth. "I appreciate the stewardship of both Tenth and Blake and Tilray over the past five years and the contributions they made to the business. At the same time, what I hope to bring is the deeper connection to the community that only a local owner/operator can truly provide."
The Source: This information is from a press release.
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