US-based beverage company Artisanal Brewing Ventures (ABV) has signed an agreement to acquire cider producer Bold Rock.

Bold Rock, founded in 2012, produces 12 varieties of hard cider and India Pressed Apple (IPA) using apples sourced from Blue Ridge Mountains of Virginia and North Carolina.

It operates the Bold Rock Cider Barn in Nellysford, Virginia, as well as a larger production facility and industrial styled taproom in Mills River, North Carolina.

Bold Rock co-founder Brian Shanks said: “We are grateful for the incredible opportunity to join such a strong craft beverage organisation in ABV.

“Many consumers, distributors and accounts have urged us to expand to their areas. Now, we have the resources and capabilities to do just that while also creating more growth opportunities for our team. We look forward to taking Bold Rock and ABV to new heights together.”

The deal is expected to close before the end of this year.

With the deal, ABV aims to expand its offering portfolio beyond craft beer, meeting the changing tastes and preferences of its adult beverage consumers.

Additionally, Bold Rock’s 80,000 barrels of craft cider and seltzer is expected to strengthen ABV’s position in the craft alcohol beverage platforms.

Under the partnership agreement, Bold Rock will become ABV’s fourth partner brand, combining with its existing craft portfolio of Sixpoint Brewery, Southern Tier Brewing Company and Victory Brewing Company.

Artisanal Brewing Ventures CEO John Coleman said: “With the addition of Bold Rock, ABV is strongly positioned to address the evolving needs of the craft consumer. Bold Rock’s portfolio is a perfect complement to ABV’s other partner breweries by bringing consumers a leading hard cider, a new hard seltzer and a line of canned cocktails.”