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Firestone Walker enters into partnership with international beer company

Alex Ullrich, KCBX News

Firestone Walker—the largest brewery on the Central Coast and fourth largest craft brewer in the state—is poised for a major expansion. Plans were announced this week of a partnership with Belgium-based brewer, Duvel.

The brewing tanks and packaging lines at the company's headquarters in Paso Robles are not sufficient to meet the current demand for its beer brands like 805 and DBA. Company co-founder David Walker said management realized it was time to find a partner to help build the brewery's next chapter.

"It's going to be very expensive and as much as we love bankers, we didn't want them in our boardroom," said Walker. "We wanted a brewer in our boardroom and the guys from Duvel were a perfect fit." 

Duvel is a family-run company that currently owns eight breweries around the world. Among those is Boulevard out of Kansas City which just underwent an expansion.

"We sell some beer in the Midwest, but ultimately, we might be able to use some of that capacity to brew beer for that Midwest market," said Walker. 

As for Boulevard or any other Duvel brand being brewed in Paso Robles, Walker said that option could only take place after the expansion is complete.

Terms of the deal were not released, but the editor of Beer Marketers Insights, Benj Steinman, put the price tag as high as $250 million. He said Duvel is now co-owner of a brewery on the rise, one that will likely remain very independent.

"Firestone Walker has the tiger by the tail, and if you're the purchaser of Firestone Walker, I'd submit that your number one priority is not to screw that up," said Steinman. 

Firestone Walker said in a statement that their" people and partnerships will remain with no change discernible in and around the brewery."