Former Atwater Brewery owner Mark Rieth is back in the craft beer business.
Rieth, who bought the Detroit-based brewery in 2005 and sold the business to Molson Coors in 2020, is acquiring a majority stake in Lansing Brewing Company (LBC) and its Hard Nose Spirits brand via his Detroit Liquid Ventures beverage platform.
Rieth purchased a 90% stake in the business, with previous owner Jennifer Gillespie retaining the remaining 10% of the business, a spokesperson told Brewbound. All LBC staff have been offered to continue in their existing roles.
Reith said in the announcement: “I wasn’t sure I’d come back to the craft beer industry, but I’m a certified beer lover and this was a unique opportunity to connect my two favorite cities, Detroit and Lansing, Motor City meets Capital City. LBC is a respected regional brand and allows me to combine my passions for brewing unique, high quality and easy drinking beers while also supporting Lansing and the Michigan State Spartan community!”
LBC general manager Jeremy McKowen called Rieth “the perfect fit to elect LBC further.”
“He’s a proven leader who can build brands while also remaining local and true to your roots,” he said.
Rieth parted ways with Molson Coors in December 2021. He has since launched Old Head Irish-style ales and the FÜL Beverage line of non-alcoholic beers and alternative sports drinks under the Detroit Liquid Ventures banner.
LBC, which launched in 2015, produced 2,300 barrels of beer in 2022, a +44% increase year-over-year, according to production data shared by the Brewers Association.
The LBC deal follows several small craft deals, including:
- Akron, Ohio-based Lock 15 Brewery was acquired by The Brew Kettle, an Ohio-based brewpub chain, according to News 5 Cleveland;
- Community Beer Works struck a deal to acquire the “brand rights, recipes, distribution rights, and capital assets” of fellow Buffalo brewery Thin Man Brewery;
- Milwaukee-based Venture Brew Co. acquired Biloba Brewing and will open a second location in the decade-old craft brewery’s space, serving its own beer and coffee along with a few Biloba beers, per the Milwaukee Journal Sentinel.