Atwater Brewery will once again be locally owned when Mark Rieth reacquires the iconic Detroit craft brewer. The announcement was made today that he has entered into a definitive agreement to repurchase the company.
The Detroit entrepreneur owned and operated Atwater Brewery from 2005 to 2020 and sold it to Tenth and Blake Beer Co., a division of Molson Coors Beverage Co., 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,” says 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 brand, 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 stood out for its “Fresh. Pure. Delicious” branding. Rieth says it’s flourishing once again and has added several major retailers to its distribution network.
“I grew up on the smooth taste Velvet promised in its advertising, and I never forgot it,” Rieth says. “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 (in Detroit). 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 Co., 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 says. “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.
For more information, visit atwaterbeer.com.
