Colorado-based New Belgium Brewing Company has agreed to purchase the assets of San Francisco’s Magnolia Brewing. The deal, which is part of a bankruptcy proceeding, cost New Belgium $2.7 million, the San Francisco Chronicle reported today. Magnolia founder Dave McLean filed for chapter 11 bankruptcy in late 2015. Since then, his two San Francisco breweries have remained open, but the future of the 20-year-old company remained unclear. Magnolia’s two brewpubs will remain open for business. As for whether production will increase, New Belgium founder Kim Jordan said that she’s still not sure. The current capacity of Magnolia’s Dogpatch brewery is 30 barrels, and the Haight brewery’s is a mere 7 barrels.
