Mark Rieth Reacquires Atwater Brewery from Tilray Brands

A Full Circle Moment for Local Businessman Who Doubles Down on Detroit-made Products

Detroit, Mich., June 4, 2026 - Mark Rieth, the Detroit entrepreneur who owned and operated Atwater Brewery from 2005 to 2020, announced today that he has entered into a definitive agreement to reacquire the iconic Detroit craft brewer, returning the company to local ownership.

Rieth originally sold Atwater to Tenth and Blake Beer Company, a division of Molson Coors Beverage Company, in 2020. In 2023, the brand was acquired by Tilray Brands.

“My heart has always been with Atwater, and I’m thrilled to have the brewery back in my hands,” said Rieth. “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.”

“Atwater has always been more than just a brewery. It’s a hometown brand that has shown up for Detroit through community events, civic organizations and neighborhood partnerships. That’s a hallmark of Atwater and I’m excited to build on that legacy, strengthen those connections and continue producing world-class beer.”

Founded in Detroit’s historic Rivertown district, Atwater Brewery has been an award-winning leader in Michigan’s craft brewing industry for more than three decades. In addition to flagship beers, including Dirty Blonde Ale and Vanilla Java Porter, the brewery produces a wide range of craft offerings distributed throughout Michigan and across multiple states nationwide.

A longtime advocate for Detroit and Michigan-made products, Rieth has built a career around acquiring, growing and investing in iconic regional brands. Since selling Atwater, he launched FÜL Beverages, a full-service beverage company focused on locally produced non-alcoholic beverages, functional beverages and beyond-beer products.

In 2025, he acquired Velvet Peanut Butter, the nearly century-old peanut butter company originally founded in Detroit that flourished under its “Fresh. Pure. Delicious” brand promise. Rieth is seeing that it flourishes once again and has added several major retailers to its growing distribution network.

“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.”

When Rieth sold Atwater to Molson Coors, he retained ownership of the historic brewery real estate, which was subsequently leased to the new owners. The latest transaction returns the Atwater brands, brewery equipment and intellectual property under Rieth’s control. He also continues as owner of Lansing Brewing Company, a venture that was unaffected by the recent sales events, and plans to build stronger collaboration between his breweries.

“Getting Atwater back under my control is something I’ve wanted to do almost since the day I sold it,” Rieth said. “Yes, it’s a lot, but it fits naturally with everything else I’m building. And I’ll be looking for strategic partnerships to accelerate current opportunities and identify new ones.”

“More than anything, it feels like a homecoming. Like we say at Atwater, ‘Born in Detroit. Raised Everywhere.’ This is a full-circle moment for me and I’m happy to be home and working to ensure Atwater brews continue to be raised everywhere!”

The transaction is expected to close in the summer 2026.

About Atwater Brewery

Founded in Detroit in 1997, Atwater Brewery is one of Michigan’s pioneering craft brewers, known for producing German-inspired lagers and distinctive craft ales including Dirty Blonde Ale and Vanilla Java Porter.