Anheuser Busch to buy Blue Point Brewing

Anheuser Busch InBev's U.S. arm is buying craft brewer Blue Point Brewing Co.

Financial terms were not disclosed.

Anheuser Busch owns a brewery in Fort Collins.

Blue Point makes more than 40 craft beers, including Toasted Lager, Hoptical Illusion, Blueberry Ale and seasonal brands, among others. Founded in 1998, it's the 34th largest craft brewery in the U.S.

Anheuser Busch said Wednesday that the deal will bring additional resources to Blue Point's operations, allowing it to meet growing consumer demand for its brands. Anheuser-Busch said it plans to invest in Blue Point to help grow its operational capabilities over the next few years.

Blue Point will continue to be based in Patchogue, N.Y.

The deal is expected to close early in the second quarter.

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