DETROIT (WXYZ) — Detroit's Atwater Brewery is back in the hands of its former owner, Mark Reith. On Thursday, the Detroit businessman announced he has entered into an agreement to reacquire the brewery from Molson Coors.
In January 2020, Rieth sold Atwater to Tenth and Blake Beer Company, which is a division of Molson Coors. It was then acquired by Tilray Brands in 2023.
“My heart has always been with Atwater, and I’m thrilled to have the brewery back in my hands,” Rieth said in a press release. “I appreciate the stewardship of both Tenth and Blake and Tilray over the past five years and the contributions they made to the business. At the same time, what I hope to bring is the deeper connection to the community that only a local owner/operator can truly provide.”
Rieth also said in a statement that he's excited to build on Atwater's legacy of showing up for Detroit and continuing to produce world-class beer.
In 2025, he also acquired Velvet Peanut Butter, and said that as part of this acquisition, Velvet's offices and distribution operations will be located in the Rivertown complex.
He also plans to open "Velvet House," which will be a brand immersion experience and retail center.
Watch below: It's back! Atwater Brewery founder bringing Velvet Peanut Butter home to Detroit
“I grew up on the smooth taste Velvet promised in its advertising, and I never forgot it,” Rieth said. “I’m happy to announce that as part of this transition, we’ll be able to locate Velvet’s offices and distribution operations in our Rivertown complex. We’re also opening ‘Velvet House’ as a brand immersion experience and retail center. Bringing more of the company’s operations back to its Detroit roots felt important to me.”
The deal is expected to close this summer.
