MillerCoors Buys Minneapolis-Based Crispin

MINNEAPOLIS (WCCO) -- A locally-owned company just made the deal of a lifetime. Brewing giant, MillerCoors, bought Crispin Cider.

In just four short years, Crispin Cider has gone from an unknown to the third largest producer of cider in the United States.

In Christian Schauf's home, there is rarely ever a shortage of Crispin Cider, but the taste isn't the only reason his fridge is stocked. Schauf is an investor and former marketing manager of the Minneapolis based company.

"I think more than anything, I'm just really proud to be a part of it," said Schauf. "There are a lot of people that probably didn't believe in it and it's kind of fun to see this happen."

The deal will provide huge growth opportunities for the young company and its 80 workers. Crispin will now have the marketing power and funding of MillerCoors. The deal also offered a reward for those willing to take the financial risk, but the details of this sale aren't being released to the public.

"It was a lot bigger return than you can make in the bank -- I'll tell you that. So, it was good, really good," said Schauf.

Company owner Joe Heron said the majority of the investors come from Minneapolis, but would not go into details on any numbers. Schauf's brother, Zach Schauf, is one of them.

"There's always that chance, and probably a good chance, that you're not going to see a return or that you'll never see that money again," said Zach Schauf.

But knowing the product and its market growth since 2008 gave the two brothers a good idea of the outcome.

"I don't think we ever really doubted it was going to happen, it was just a matter of when," said Zach Schauf.

Crispin will run as an independent of MillerCoors. So, the product won't change and its headquarters will stay in Minneapolis.

Crispin operates a cidery in California where it sells its Fox Barrel Cider, a pear-based cider. That was also purchased in the deal.