Two of Colorado’s oldest craft brewers are joining forces. The owners of Breckenridge Brewery and Wynkoop Brewing Co. said Wednesday that they will create a joint venture to operate their food and beer holdings.
Each firm will maintain its name and corporate structure, but they will become 50-50 partners financially and in operations with a shared board of directors.
“It’s a marriage of opportunity,” said Ed Cerkovnik, president of Breckenridge Holding Co. “It provides us with a stronger, more diverse platform to pursue growth and expansion.”
Analysts view the deal as combining Breckenridge’s strength in brewing with Wynkoop’s expertise in restaurants.
Wynkoop, founded by Gov.-elect John Hickenlooper, operates seven restaurants and brewpubs. Hickenlooper in 2007 sold his interest in the restaurants, which include the namesake brewpub, Wazee Supper Club, Gaetano’s, Goosetown Tavern, the Cherry Cricket, Pearl St. Grill and Phantom Canyon Brewpub.
Breckenridge is one of Colorado’s largest craft brewers, with its main brewery in central Denver at 471 Kalamath St.
“It makes a lot of sense,” said Paul Gatza, director of the Boulder-based Brewers Association. “There are very good minds at both companies, and they will get some shared expertise.”
Gatza said the deal represents a trend in the beer industry in which smaller, independent brewers are collaborating to reduce expenses and expand markets.
Fort Collins-based New Belgium and Elysian Brewing of Seattle in 2008 created a joint venture to share breweries, recipes and research.
Wynkoop Holdings Inc. chief executive Lee Driscoll said the agreement with Breckenridge will allow Wynkoop to expand its production of canned craft brews that it launched last year.
“We’ve quickly reached our brewing capacity,” he said. “This partnership means we can quickly boost our production without the huge expense of a brewery expansion.”
Wynkoop will continue to make several varieties of draft beer at its iconic brewpub at 18th and Wynkoop streets in Lower Downtown. Production of most of its canned Railyard and Silverback ales will shift to the Breckenridge Brewery in Denver.
Restaurants and brewpubs operated by both companies will serve each other’s beers.
Breckenridge in 2009 was Colorado’s fourth-largest craft brewer, behind New Belgium, Odell and Oskar Blues.
Steve Raabe: 303-954-1948 or sraabe@denverpost.com
Breckenridge Brewery
Founded: 1990
Flagship beer: Avalanche Ale
2009 production: 27,000 barrels
Breweries and restaurants: 7
Locations: Denver, Breckenridge, Grand Junction
Wynkoop Brewing Co.
Founded: 1988
Flagship beer: Railyard Ale
Breweries and restaurants: 7
2009 production: 2,850 barrels
Locations: Denver, Colorado Springs
