As one of the largest craft brewers in the state, Cape May Brewing Co. has been a major player in the industry since it was founded in 2011.
It’s now the major player.
On Monday, Cape May announced plans to acquire the assets of a fellow New Jersey craft brewer, Somerdale-based Flying Fish Brewing Co., which traces its history back to 1995.
Financial terms of the deal were not announced, but industry experts said combining the two private companies will create a business with more than $10 million in revenue.
Cape May co-founder and CEO Ryan Krill said the companies — brands that he said have charted the course for craft brewing in New Jersey with a shared foundation of entrepreneurial spirit, strong local pride, passion for innovation and a deep appreciation for brand fans — is a big win for the sector and the state.
“This is a massive milestone for both Cape May and Flying Fish, who we’ve long admired as a true pioneer of craft brewing in the Garden State since its founding in 1995,” Krill said. “We are thrilled to expand our product portfolio and are approaching this acquisition with a focus on our core values, passion for brewing and commitment to serving our customers with the highest-quality brews.”
Krill described the acquisition as a strategic investment that will significantly increase the company’s manufacturing and warehousing space; boost annual production capacity; and add manufacturing capabilities to support the expansion of our product portfolio.
As part of the agreement, Flying Fish will continue to be distributed by its wholesale distributor partners.
Cape May will continue to operate at its existing location in New Jersey, utilizing the Cape Beverage Distributing network throughout the Garden State and wholesale distributor partnerships in Pennsylvania and Delaware.
Cape May is based in Rio Grande, an unincorporated community based mainly in Middle Township in Cape May County.
“We are excited for these new opportunities, and grateful for the teams and fans of both brands who have supported the New Jersey craft beer community over the years,” Krill said.
“This may be a brand-new chapter in our company history, but it’s one that is rooted in the same values that have driven our commitment to quality, people, and refreshing brews since our founding in 2011.”