Two Black-owned breweries have announced a merger in California, creating one of the largest U.S. beer companies in the Black community.

The financial terms of the transaction between Full Circle Brewing and Speakeasy Ales & Lagers were not disclosed.

“I am excited for the passing of the baton to the next generation of Black entrepreneurs in the craft beer space,” Speakeasy CEO Ces Butner said in a statement. “I will continue to sit on the advisory board and look forward to seeing the Speakeasy brand grow and evolve.”

Full Circle Brewing CEO Arthur Moye said the company plans to breathe new life into Speakeasy’s current brands and expand its range of products.

“We are excited to apply what we learned from revitalizing Full Circle and increasing sales by 5,000 per cent to San Francisco’s longest-running independent brewery,” Moye said in a statement.

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As it looks to revive the brand, which has declined considerably since its 2015 high of 32,673 barrels, according to a report from Brewhound.

Its barrel reduction in recent years occurred between 2016 and 2017 when volume dropped from 27,000 barrels to 5,446 barrels. In 2018, it dipped to 2,100 barrels. Speakeasy produced 5,000 barrels in 2021, the article reads.

Butner acquired Speakeasy in 2018 after selling his former company, Oakland-based Horizon Beverage, to Anheuser-Busch InBev in 2015, according to Brewhound.

Full Circle, founded in 2000, will bring its portfolio of fruit-flavoured alcohol products, such as the Illa and Vibes series and the Sonoma Cider brands, to join Speakeasy’s offerings, which include Big Daddy IPA, West Coast IPA, Prohibition Ale, and Metropolis hoppy American lager.