One of America's largest craft beer makers, Kansas City-based Boulevard Brewing, is being sold to Belgian brewer Duvel Moortgat.
Boulevard founder John McDonald says in a letter posted Thursday on the company's website that the sale is designed to "take Boulevard to the next level."
Boulevard has grown rapidly since its founding in 1989. The Kansas City Star reports that Boulevard produces 185,000 barrels of beer annually and sells it in 25 states. It also has a small presence in Scandinavia.
McDonald says he approached Duvel three months ago and struck a deal that's expected to close by the end of the year. Financial details were not disclosed.
Duvel brewed 700,000 barrels of beer last year and employs 900 people. Boulevard has 125 employees.