Bevcraft Group acquires Tripod Canning
In preparation for the closing of this transaction, Bevcraft’s senior leadership team met with the Irish Government minister for enterprise, Simon Coveney, and Enterprise Ireland in New York, and also with Steve Lenox of Choose New Jersey who travelled to Mullingar, Ireland. Image: Bevcraft Group
Bevcraft Group, Europe’s leading ‘craft can’ specialist, has completed the acquisition of the mobile canning business of Tripod Canning, LLC, based in Kenilworth, New Jersey, as part of a multi-million-dollar US investment programme.
Tripod’s mobile fleet, equipment and crews will join Bevcraft USA in serving craft beverage producers and breweries across New Jersey, New York and Pennsylvania as well as Maryland, Delaware and Connecticut.
Bevcraft already provides mobile canning across Europe from bases in Ireland, Norway, the UK and the Netherlands, as well as operating can decoration and digital printing plants, wholesale depots, static canning facilities and quality control labs.
The deal will build upon the job Tripod founder, Jay Kurz, and his team have accomplished in building a quality-led mobile canning business.
Commenting Darren Fenton, COO of the Bevcraft Group, said: “Quality-led mobile canning has from the outset been at the heart of what we do at Bevcraft. We are delighted to welcome the Tripod team into our Group and to embark on the next chapter of growth in the USA.
“We have always believed in a quality-led, service-driven approach to mobile canning and we are very excited to bring a fresh approach to a market we have always considered one of the most innovative and dynamic in the world.
“Craft beer has come a long way since the very first mobile canners popped up more than a decade ago. Our job is to iterate and improve by making quality mobile canning as convenient, cost- effective and flexible as possible for breweries as they scale and to inject more competition into the market. We believe in freedom from rigid contracts and have always offered a truly flexible commitment-free solution for our clients.”
As a mobile canner, Bevcraft USA states it is delighted to be based in New Jersey right in the middle of the New York – Philadelphia corridor and within easy reach of so many major cities along the East Coast.
Bevcraft’s investment in New Jersey has been supported by Enterprise Ireland and Choose New Jersey. Commenting on this, Ciarán Gorman, CFO of the Bevcraft Group, said, “Ireland and the USA have an incredible shared history that to this very day includes our own close family ties across the USA including in New Jersey and New York.
“As part of this transaction we have appointed Conor Bowden, an Irish-American from New York, as our US commercial director and we look forward to collaboration with our international teams in supporting the US operation.
“America is the global leader in craft beer and we have for many years worked with excellent US supply chain partners. Ultimately our business is in the valued added manufacturing sector and specifically in a category that is built around local on-shore production. Craft beer delivers quality local manufacturing jobs wherever it goes, and we are excited about continued investment in American manufacturing.”
In preparation for the closing of this transaction, Bevcraft’s senior leadership team met with the Irish Government minister for enterprise, Simon Coveney, and Enterprise Ireland in New York, and also with Steve Lenox of Choose New Jersey who travelled to Mullingar, Ireland.
Bevcraft Group retained Chris Ball of RBK (Athlone, Ireland) for Corporate Finance requirements on this transaction and Michael Gattoni and Chris McHattie of the McHattie Law Firm (New Jersey, USA) for Legal Advisory.
Consideration for the transaction is not disclosed. Acquisition management and integration will be led by Conor Bowden and Henry Reilly who are part of Bevcraft’s senior management team. This is the third M&A deal completed by Bevcraft in the past 18mts.
In 2022 Bevcraft acquired Them That Can’s UK mobile canning business and completed a strategic merger with Heidrun Tapperi AS of Norway.